Novak Corp.s comparative balance sheets are presented below.

Novak Corp. Comparative Balance Sheets December 31
		2022		2021
Cash		$ 14,200		$ 10,500
Accounts receivable		21,700		23,500
Land		20,200		26,500
Buildings		69,800		69,800
Accumulated depreciationbuildings		(15,200)		(11,000)
Total		$110,700		$119,300
Accounts payable		$ 11,800		$ 31,600
Common stock		75,200		68,200
Retained earnings		23,700		19,500
Total		$110,700		$119,300

Additional information:

1. Net income was $22,200. Dividends declared and paid were $18,000.

2. No noncash investing and financing activities occurred during 2022.

3. The land was sold for cash of $4,700.

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:___________

Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000, or in parenthesis e.g. (15,000).) Novak Corp. Statement of Cash Flows - Indirect Method For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income $ 22,200 Adjustments to reconcile net income to Depreciation Expense $ 4200 Loss on Disposal of Plant Assets 1600 Decrease in Accounts Receivable 1800 Decrease in Accounts Payable -16800 9200 Cash Flows from Operating Activities 13000 Cash Flows from Financing Activities $