Here are comparative balance sheets for Migitsu Company. Prepare a statement of cash flowsindirect method. MIGITSU COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $75,000 $20,000 Accounts receivable 85,000 75,000 Inventories 172,000 192,000 Land 71,000 100,000 Equipment 262,000 200,000 Accumulated depreciation (67,000 ) (34,000 ) Total $598,000 $553,000 Liabilities and Stockholders Equity Accounts payable $35,000 $52,000 Bonds payable 151,000 209,000 Common stock ($1 par) 218,000 172,000 Retained earnings 194,000 120,000 Total $598,000 $553,000 Additional information: 1. Net income for 2020 was $105,000. 2. Cash dividends of $31,000 were declared and paid. 3. Bonds payable amounting to $58,000 were redeemed for cash $58,000. 4. Common stock was issued for $46,000 cash. 5. Equipment that cost $50,000 and had a book value of $30,000 was sold for $36,000 during 2020; land was sold at cost. What is the free cash flow for 2020?