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Presented here are the financial statements of Novak Company. Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total

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Presented here are the financial statements of Novak Company. Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total \begin{tabular}{rr} $28,200 & $16,700 \\ 7,500 & 8,400 \\ 26,300 & 33,200 \\ 17,200 & 14,200 \\ 49,400 & 41,700 \\ \hline$128,600 & $114,200 \\ \hline \end{tabular} Novak Company Additional data: 1. Depreciation expense was $14,900. 2. Dividends declared and paid were $24,140. 3. During the year equipment was sold for $9,800cash. This equipment cost $18,300 originally and had accumulated depreciation of $8,500 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Compute free cash flow. (Show amounts that decrease cash flow with either a-sign e.g. 15,000 or in parer (15,000).) Free cash flow

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