Problem 12-07A Presented below are the financial statements of Whispering Winds Company. Whispering Winds Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation $ 42,000 24,000 33,600 72,000 (38,400 ) $133,200 $ 24,000 16,800 24,000 93,600 (28,800 ) $129,600 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $ 22,800 8,400 20,400 21,600 60,000 $133,200 $ 18,000 9,600 39,600 16,800 45,600 $129,600 Total Whispering Winds Company Income Statement For the Year Ended December 31, 2022 $290,400 210,000 80,400 Sales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations $21,600 7,200 Interest expense 28,800 51,600 3,600 48,000 9,600 Income before income taxes Income tax expense Net income $ 38,400 Additional data: 1. Depreciation expense was $21,000. 2. Dividends declared and paid were $24,000. 3. During the year equipment was sold for $10,200 cash. This equipment cost $21,600 originally and had accumulated depreciation of $11,400 at the time of sale. Prepare a statement of cash flows using the Inalrect method. (Snow amounts that decrease cash flow with eltne Whispering Winds Company Statement of Cash Flows December 31, 2022 For the Year Ended December 31, 2022 For the Quarter Ended December 31, 2022 Adjustments to reconcile net income to CALCULATOR STANDARD VIEW PRINTER VERSI LINK TO TEXT LINK TO VIDEO 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 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO VIDEO