Please solve for free cash flow.

Presented below are the financial statements of Novak Company. Novak Company Comparative Balance Sheets December 31 Assets 2017 Cash $ 37,100 Accounts receivable 21,200 Inventory 29,680 Property, plant, and equipment 63,600 Accumulated depreciation (33,920) Total $117,660 2016 $ 21,200 14,840 21,200 82,680 (25,440) $114,480 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 20,140 7,420 18,020 19.080 53,000 $117,660 $ 15,900 8,480 34.980 14,840 40,280 $114,480 Novak Company Income Statement For the Year Ended December 31, 2017 Sales revenue $256,520 Cost of goods sold 185,500 Gross profit 71,020 Selling expenses $19.080 Administrative expenses 6,360 25,440 Income from operations 45.580 Interest expense 3,180 Income before income taxes 42,400 Income tax expense 8,480 Net income $ 33,920 Additional data: 1. Depreciation expense was $18.550. 2. Dividends declared and paid were $21.200. 3. During the year equipment was sold for $9.010 cash. This equipment cost $19,080 time of sale. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-signeg.-15,000 or in parenthesis eg. (15,000) Novak Company Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income 33920 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ 18550 Increase in Accounts Receivable -6360 Increase in Inventory -8480 Increase in Accounts Payable 4240 Decrease in Income Taxes Payable -1060 6890 Net Cash Provided by Operating Activities 40810 Cash Flows from Investing Activities Sale of Equipment 9010 Cash Flows from Financing Activities Redemption of Bonds -16960 Issuance of Common Stock 4240 Payment of Dividends -21200 Net Cash used by Financing Activities -33920 Net Increase in Cash 15900 Cash at Beginning of Period 21200 Cash at End of Period 37100 eTextbook and Media X Your answer is incorrect. Compute free cash flow. (Show a negative free cash flow with either a-sign e.g. - 15,000 or in parenthesis eg. (15,000.) Free cash flow $ 117890