P17-5B Prepare a cash flow statement-indirect method-and calculate free cash flow. (LO 2, 4) AP Presented below are the financial statements of Gaudette Company. GAUDETTE COMPANY Balance Sheet December 31 Assets 2017 2016 Cash $ $ 28,000 33,000 Accounts receivable 23,000 14,000 Inventory 41,000 25,000 Equipment 70,000 78,000 Accumulated depreciation- equipment (27,000 (24,000 Total $135,00 $126,00 0 0 Liabilities and Shareholders' Equity Accounts payable LA 31,000 43,000 Income taxes payable 26,000 20,000 Notes payable 20,000 10,000 Common shares 25,000 25,000