Presented here are the financial statements of Bramble Company. BRAMBLE COMPANY Comparative Balance Sheets December 31 Assets 2022 2021 Cash $36.900 $ 20,000 Accounts receivable 32.700 18,300 Inventory 29.100 20,000 Property, plant, and equipment 59,600 78,000 Accumulated depreciation (29,700) (23,000) Total $ 128,600 $ 113,300 Liabilities and Stockholders' Equity Accounts payable $28,400 $ 16,700 Income taxes payable 7,200 8,200 Bonds payable 26,200 32,700 Common stock 17,200 13,900 Retained earnings 49,600 41,800 Total $ 128,600 $ 113.300 BRAMBLE COMPANY Income Statement For the Year Ended December 31, 2022 Sales revenue $ 241,500 Cost of goods sold 176,500 Gross profit 65,000 Selling expenses $ 17,550 Administrative expenses 5.850 23,400 Income from operations 41,600 Interest expense 3,400 Income before income taxes 38.200 Income tax expense 7,640 Net income $ 30,560 Additional data: 1. Depreciation expense was $ 16,300. 2. Dividends declared and paid were $ 22,760. 3. During the year, equipment was sold for $ 8,800 cash. This equipment originally cost $ 18,400 and had accumu depreciation of $ 9.600 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. 4. All sales and inventory purchases are on account. a) Your answer is partially correct. Prepare a statement of cash flows for Bramble Company using the direct method. (Show amounts that decrease cash fl a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) BRAMBLE COMPANY Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities $ 30560 cash payments: DOO - NOO DON $ e Textbook and Media Save for Later Attempts: 1 of 5 used S b) Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g.-45 or parentheses Free cash flow $