NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $37,600 $20,400 Accounts receivable 18,600 32,700 20,100 Inventory 29,900 59,100 77,800 Equipment Accumulated depreciation-equipment |(29,200) (23,100) $113,800 $130,100 Total Liabilities and Stockholders' Equity Accounts payable $16,100 $28,300 Income taxes payable 7,400 8,300 Bonds payable 27,600 34,000 14,400 Common stock 18,200 Retained earnings 48,600 41,000 $130,100 $113,800 Total NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue $242,400 175,900 Cost of goods sold Gross profit 66,500 24,900 Operating expenses Income from operations 41,600 2,700 Interest expense Income before income taxes 38,900 Income tax expense 8,800 $30,100 Net income Additional data: 1. Dividends declared and paid were $22,500. 2. During the year, equipment was sold for $9,400 cash. This equipment cost $18,700 originally and had a book value of $9,400 at the time of sale 3. All depreciation expense, $15,400, is in the operating expenses 4. All sales and purchases are on account Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. Your answer is partially correct. Try again. Prepare a statement of cash flows for Nosker Company using the direct method. (Show amounts that decrease cash flow with either a sign e. g. -15,000 or in parenthesis e.g. (1 NOSKER COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities 228300 Cash Receipts from Customers Less cash payments: To Suppliers 173500 For Interest 2700 For Operating Expenses 9500 15700 For Income Taxes Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment 9400 Net Cash Provided by Investing Activities Cash Flows from Financing Activities -6400 Redemptlon of Bonds 3800 Issuance of Common Stock -22500 Payment of Dividends Net Cash Used by Financing Activities Net Increase in Cash X Your answer is incorrect. Try again. Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash flow Open Show Work Click if you would like to Show Work for this