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Presented below are the financial statements of Swifty Corporation. Swifty Corporation Comparative Balance Sheets December 31 Assets 2022 Cash $ 28,000 Accounts receivable 16,000 Inventory

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Presented below are the financial statements of Swifty Corporation. Swifty Corporation Comparative Balance Sheets December 31 Assets 2022 Cash $ 28,000 Accounts receivable 16,000 Inventory 22,400 Property, plant, and equipment 48,000 Accumulated depreciation (25,600 ) Total $88,800 2021 $ 16,000 11,200 16,000 62,400 (19,200 ) $86,400 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 15,200 5,600 13,600 14,400 40,000 $88,800 $ 12,000 6,400 26,400 11,200 30,400 $86,400 $193,600 140,000 53,600 Swifty Corporation Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross profit Selling expenses $14,400 Administrative expenses 4,800 Income from operations Interest expense Income before income taxes Income tax expense Net income 19,200 34,400 2,400 32,000 6,400 $ 25,600 Additional data: 1. Depreciation expense was $14,000 2 Dividends declared and paid were $ 16,000 3. During the year equipment was sold for $6,800 cash. This equipment cost $14,400 originally and had accumulated depreciation of $7,600 at the time of sale 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 L LINK TO TEXT LINK TO VIDEO

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