Presented below are the financial statements of Riverbed Corp. Riverbed Corp Comparative Balance Sheets December 31 Assets 2017 84,000 48,000 48,000 33,600 67,200 48,000 144,000 187,200 (76,800) (57,600) 2016 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total $266,400 259,200 Liabilities and Stockholders'Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $45,600 36,000 16,80019,200 40,800 79.200 43,200 33,600 91,200 $266,400 259,200 120,000 Income Statement For the Year Ended December 31,2017 Cost of goods sold Gross proft 420,000 160,800 Selling expenses $ 43,200 Administrative expenses 14400 57.600 Income from operations Interest expense Income before Income taxes Income tax expense Net income 7,200 96,000 19,200 $76800 Additional data: 1. Depreciation expense was $ 42,000 2. Dividends declared and paid were $ 48,000. was sold for $ 20,400 cash. This equipment cost $ 43.200 originlly and had accumulated depreciation of s 22.800 at the time of sale Further analysis reveals the following 1. Accounts payable pertain to merchandise suppliers 2. All operating expenses except for depreclation were paid In cash 3. All depreciation expense is in the selling expense category 4. All sales and purchases are on account. Prepare a statement of cash flows for Riverbed Corp using the direct method.(Show amounts in the investing and financing sections that decrease cash flow with either a-sign e-g.-15,000 or in parenthesis eg.(15,000)) Riverbed Corp Statement of Cash Flows 2 8 Compute free cash flow. (Show a negative free cash flow with either a-sign es.-15,000 or in parenthesis eg. (15,000) Free cash flow$ Attempt