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).)

Compute free cash flow. (Show a negative free cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Presented below are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 98,000 $ 56,000 56,000 39,200 78,400 56,000 Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation 168,000 218,400 (89,600 ) (67,200) Total $310,800 $ 302,400 $ 53,200 $ 42,000 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock 19,600 22,400 47,600 92,400 50.400 39,200 Retained earnings 140,000 106,400 Total $ 310,800 $ 302,400 Blossom Company Income Statement For the Year Ended December 31, 2022 Sales revenue 677,600 490,000 Cost of goods sold Gross profit 187,600 Selling expenses $ 50,400 Administrative expenses 16,800 67,200 Income from operations 120,400 8.400 Interest expense Income before income taxes 112,000 Income tax expense 22,400 Net income $ 89,600 Additional data: 1. 2. Depreciation expense was $ 49,000. Dividends declared and paid were $ 56,000. During the year equipment was sold for $ 23,800 cash. This equipment cost $ 50,400 originally and had accumulated depreciation of $ 26,600 at the time of sale. 3. Blossom Company Statement of Cash Flows Adjustments to reconcile net income to