Presented below are the financial statements of Coronado Industries. Coronado Industries Comparative Balance Sheets December 31 Assets 2022 $ 49,000 2021 $28,000 Cash Accounts receivable Inventory Property, plant, and equipment 28,000 39,200 84,000 (44,800) $155,400 19,600 28,000 109,200 (33,600) $151,200 Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable $ 26,600 9,800 23,800 25,200 Bonds payable $ 21,000 11,200 46,200 19,600 53,200 $151,200 Common stock Retained earnings 70,000 Total $155,400 Coronado Industries Income Statement For the Year Ended December 31, 2022 Sales revenue $338,800 245,000 Cost of goods sold Gross profit Selling expenses 93,800 $25,200 8.400 Administrative expenses 33,600 Income from operations 60,200 Interest expense 4,200 Income before income taxes 56,000 Income tax expense 11,200 Net income $ 44,800 Additional data: 1. Depreciation expense was $24,500. 2. Dividends declared and paid were $28,000. 3. During the year equipment was sold for $11,900 cash. This equipment cost $25,200 originally and had accumulated depreciation of $13,300 at the time of sale. 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 - 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 e Textbook and Media 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 $