Problem 13-8A The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 Cash Accounts receivable Inventory Equipment Accumulated depreciation equipment Total $36,100 32,800 30,500 60,000 (29,200) $130,200 2019 $19,800 19,500 21,000 77,600 (23,600) $114,300 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,200 7,400 26,000 18,400 50,200 $130,200 $ 16,200 8,300 33,100 13,400 43,300 $114,300 NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $242,100 176,800 65,300 23,300 42,000 2,400 39,600 7,100 $32,500 Additional data: 1. Dividends declared and paid were $25,600. 2. During the year, equipment was sold for $9,100 cash. This equipment cost $17,600 originally and had a book value of $9,100 at the time of sale. 3. All depreciation expense, $14,100, is in the operating expenses. 4. All sales and purchases are on account. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. Prepare a statement of cash flows for Nosker Company using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) NOSKER COMPANY Statement of Cash Flows cash payments: Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash flows Click if you would like to Show Work for this question: Open Show Work