Kingbird, Inc's comparative balance sheets are presented below. Kingbird, Inc. Comparative Balance Sheets December 31 2022 2021 Cash $ 15,100 Accounts receivable 21.700 Land 20,200 $ 10,300 23.900 26,300 70,300 (10,000 70,300 Buildings Accumulated depreciation-buildings (14,600) Total $112.700 $120,800 $ 12,700 $ 31,600 Accounts payable Common stock 74,400 70,300 Retained earnings 25,600 18.900 Total $112,700 $120,800 $ 12,700 $31,600 74.400 70,300 Accounts payable Common stock Retained earnings Total 25,600 18.900 $112.700 $120.800 Additional information: 1. 2. Net income was $23,000. Dividends declared and paid were $16,300. No noncash investing and financing activities occurred during 2022 The land was sold for cash of $4,500 3. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with eithe -15,000, or in parenthesis eg. (15,000).) Kingbird, Inc. Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities 23000 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 4600 1600 Sale of Land 2200 Decrease in Accounts Receivable 15900 Decrease in Accounts Payable Decrease in Accounts Payable 15900 7500 15500 Cash Flows from Operating Activities Cash Flows from Investing Activities. Sale of Land 4500 Net Cash Provided by Investing Activities Payment of Dividends - 16300 Issuance of Common Stock 1100 Net Cash Used by Financing Activities - 15200 Net Increase in Cash 4800 - 15200 Net Cash Used by Financing Activities 4800 Net Increase in Cash 10300 Cash at Beginning of Period Cash at End of Period 15100 e Textbook and Media X Your answer is incorrect. Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. - 45 or parentheses es. (45).) Free cash flow $ 800