Question 7 Obermeyer Corporation issued the following statement of cash flows for 2017 OBERMEYER CORPORATION Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2017 Cash flows from operating activities $59.900 Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense $9,000 Loss on disposal of equipment 8,800 (4,700) Increase inventory Decrease in accounts receivable 3,000 Decrease in accounts payable (2,500) 13,600 73,500 Net cash provided by operating activities Cash flows from investing activities Sale investments 3,000 Purchase of equipment (26,700) Net cash used by investing activities (23,700) Cash flows from financing activities Issuance of stock 18,400 Payment on long-term note payable (10,400) Payment for dividends (17,500) Net cash used by financing activities (9,500) 40,300 Net increase in cash Cash at beginning of year 14,300 Cash at end of year $54,600 (a) Compute free cash flow for Obermeyer Corporation. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash flow