Presented below are the financial statements of Coronado Industries. Coronado Industries Comparative Balance Sheets December 31 Assets 2022 $49,000 2021 $28,000 Cash 28,000 19,600 Accounts receivable 39,200 28,000 Inventory Property, plant, and equipment 84,000 109,200 (44,800) (33,600) Accumulated depreciation $155,400 $151,200 Total Liabilities and Stockholders Equity $26,600 $21,000 Accounts payable 11,200 Income taxes payable 9,800 23,800 46,200 Bonds payable Common stock 25,200 19,600 Retained earnings 70,000 53,200 $155,400 $151,200 Total Indigo Corporation Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Decrease in Inventory Increase in Accounts Receivable Decrease in AcCounts Payable Net Cash Provided by Operating Activities Net Cash Provided by Investing Activities Sale of Land Purchase of Equipment 4h 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).) Coronado Industries Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ Increase in Accounts Receivable Increase in Inventory Increase in Accounts Payable Decrease in Income Taxes Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Cash Flows from Financing Activities Issuance of Common Stock Redemption of Bonds Payment of Dividends Net Cash used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period LINK XT LINK TO VIDEO > 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).) Free cash flow $ Open Show Work Click if you would like to Show Work for this question: LINK O XT LINK TO VIDEO Presented below are the financial statements of Coronado Industries. Coronado Industries Comparative Balance Sheets December 31 Assets 2022 $49,000 2021 $28,000 Cash 28,000 19,600 Accounts receivable 39,200 28,000 Inventory Property, plant, and equipment 84,000 109,200 (44,800) (33,600) Accumulated depreciation $155,400 $151,200 Total Liabilities and Stockholders Equity $26,600 $21,000 Accounts payable 11,200 Income taxes payable 9,800 23,800 46,200 Bonds payable Common stock 25,200 19,600 Retained earnings 70,000 53,200 $155,400 $151,200 Total Indigo Corporation Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Decrease in Inventory Increase in Accounts Receivable Decrease in AcCounts Payable Net Cash Provided by Operating Activities Net Cash Provided by Investing Activities Sale of Land Purchase of Equipment 4h 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).) Coronado Industries Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ Increase in Accounts Receivable Increase in Inventory Increase in Accounts Payable Decrease in Income Taxes Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Cash Flows from Financing Activities Issuance of Common Stock Redemption of Bonds Payment of Dividends Net Cash used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period LINK XT LINK TO VIDEO > 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).) Free cash flow $ Open Show Work Click if you would like to Show Work for this question: LINK O XT LINK TO VIDEO