please i need a help on (B) free cash flow.
Problem 12-07A (Part Level Submission) Presented below are the financial statements of Swifty Corporation. Swifty Corporation Comparative Balance Sheets December 31 Assets 2022 Cash $ 28,000 Accounts receivable 16,000 Inventory 22,400 Property, plant, and equipment 48,000 Accumulated depreciation (25,600 ) Total $88,800 2021 $ 16,000 11,200 16,000 62,400 (19,200 ) $86,400 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 15,200 5,600 13,600 14,400 40,000 $88,800 $ 12,000 6,400 26,400 11,200 30,400 $86,400 Swifty Corporation Income Statement For the Year Ended December 31, 2022 $193,600 140,000 53,600 Swifty Corporation Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross profit Selling expenses $14,400 Administrative expenses 4,800 Income from operations Interest expense Income before income taxes Income tax expense Net income 19,200 34,400 2,400 32,000 6,400 $ 25,600 Additional data: 1. Depreciation expense was $14,000. 2. Dividends declared and paid were $16,000. 3. During the year equipment was sold for $6,800 cash. This equipment cost $14,400 originally and had accumulated depreciation of $7,600 at the time of sale. (a) Your answer is correct Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e... 15,000 or in parenthesis e.g. (15,000).) BACK NEXT Es (a) Your answer is correct. Prepare a statement of cash flows 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).) Swifty Corporation Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities ly 25600 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 14000 Increase in Accounts Receivable 4800 Increase in Inventory -6400 Increase in Accounts Payable 3200 Decrease in Income Taxes Payable 800 CALCULATOR FULL SCREEN PRINTER VERSION 4 BAC CES 5200 Net Cash Provided by Operating Activities 30800 Cash Flows from Investing Activities Sale of Equipment 6800 Cash Flows from Financing Activities cudy Redemption of Bonds -12800 Payment of Dividends 16000 Issuance of Common Stock 3200 Net Cash used by Financing Activities -25600 Net Increase in Cash 12000 Cash at Beginning of Period 16000 CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NEXT Net Increase in Cash 12000 Cash at Beginning of Penod 16000 Cash at End of Period 28000 SHOW ANSWER LINK TO TEXT LINK TO VIDEO Attempts: 3 of 5 used (b) > Your answer is incorrect. Try again. Compute free cash flow. (Show a negative free cash flow with either a sign e.g. -15,000 or in parenthesis e... (15,000).) Free cash flow -30800 LINK TO TEXT LINK TO VIDEO
