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Presented below are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2016 Cash Accounts receivable Inventory Property, plant, and

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Presented below are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2016 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 2017 76,650 43,800 43,800 30,660 61,320 43,a 131,400 170,820 (70,080) (52,560) 243,090 $236,520 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 41,610 32,850 15,330 17,520 37,230 72,270 39420 30.660 83,220 $243,090 $236,520 109,500 Company Income Statement For the Year Ended 31, 2017 529,980 383,250 146,730 Sales revenue Cost of goods sold Gross proft Selling expenses Administrative expenses 13,1405 Income from operations Interest expense Income before income taxes Income tax expense Net income $39,420 52,560 94,170 6,570 87,600 70,080 Additional data: 1. Depreciation expense was $ 38,325. 2. Dividends declared and paid were $ 43,800. During the year equipment was sold for $ 18,615 cash. This equipment cost $ 39,420 originally and had accumulated depreciation of $ 20,805 at the time of sale. cash flow with elther a-sigm es 15,000 or in parenthesl e (15.0 that Statement of Cash Flows Adjustments to reconcile net income to Compute free cash flo (Show a negative ree cash flow with either-sign eg . 15,000 or in parenthesis eg (15,000 .) Free cash flow $

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