Presented below are the financial statements of Pharoah Company. Pharoah Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 24,500 Accounts receivable 14,000 Inventory 19,600 Property, plant, and equipment 42,000 Accumulated depreciation (22,400 ) Total $77,700 2021 $ 14,000 9,800 14,000 54,600 (16,800 ) $75,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 13,300 4,900 11,900 12,600 35,000 $77,700 $ 10,500 5,600 23,100 9,800 26,600 $75,600 Pharoah Company Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross profit Selling expenses $12,600 Administrative expenses 4,200 Income from operations Interest expense $169,400 122.500 46,900 Income before income taxes Income tax expense 16,800 30,100 2,100 28,000 5,600 $22.400 Net Income Additional data: 1. Depreciation expense was $12,250. 2. Dividends declared and paid were $14,000. 3. During the year equipment was sold for $5,950 cash. This equipment.cost $12.600 originally and had accumulated depreciation of $6,650 at the time of sale Pharoah Company Statement of Cash Flows For the Year Ended December 31, 2022 T Cash Flows from Operating Activities Adjustments to reconcile net income to Kimmel, Accounting, 7e "actice Assignment Gradebook ORION Downloadable eTextbook gnment idy. LINK TO TEXT x Your answer is incorrect. Try again. Compute free cash flow. (Show a negative free cash flow with either a - sign e.g.-15, Free cash flow 26950 Click if you would like to show Work for this question: Open Show Work