Net cash for operating activities & statement of cash flows & compute free cash flow

Foxboro Company's income statement for Year 2 follows Foxboro Company e Statement Sales Cost of goods sold $700,000 400,000 Gross margin Selling and administrative expenses 300,000 216,000 Net operating income Gain on sale of equipment 84.000 6,000 Income before taxes Income taxes 90,000 27,000 Net income 5 63,000 Its balance sheet amounts at the end of Years 1 and 2 are as follows Foxboro Company Balance Sheet Year 2 Year 1 Assets Cash Accounts receivable Inventory Prepaid expenses S 11,000 $ 19,000 250,000 180 000 318,000 270,00 7000 16,000 Total current assets 586,000 485,000 Plant and equipment Accumulated depreciation 620,000 500,000 165,000 130,000 Net plant and equipment 455,000 370,000 40,000 1,081,000 $855,000 Loan to Harker Company Total assets Liabilities and Stockholders' equity Accounts payable Accrued iabilities Income taxes payable 5 310,000 $260,000 42,000 50,000 84,000 80,000 Total current liabilities Bonds payable 436,000 390,000 190,000 100,000 Total Sabilties 626,000 490,000 Common stock Retained eamings 335,000 275,000 120,000 90,000 Total stockholders' equity 455,000 365,000 Total liabilities and stockholders' equity $1,081,000 $855,000