Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $14,300 $10,700 Accounts receivable 21,200 23,400 Land 20,000 26,000 Buildings 70,000 70,000 Accumulated depreciation-buildings (15,000) (10,000) Total $110,500 $120,100 Accounts payable $12,370 $31,100 Common stock 75,000 69,000 Retained earnings 23,130 20,000 Total $110,500 $120,100 Additional information: 1. Net income was $22,630. Dividends declared and paid were $19,500. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold for cash of $4,900. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000, or in parenthesis e.g. (15,000).) ROJAS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income $ 22630 Adjustments to reconcile net income to Net Cash Provided by Operating Activities - Depreciation Expense $ 5000 Sale of Land 2400 Decrease in Accounts Receivable 2200 Decrease in Accounts Payable (18730) Question 15 of 15 > 14.12 / 40 E Payment of Dividends + $ 19500 Issuance of Common Stock 6000 Net Cash Used by Financing Activities + Net Increase in Cash + Cash at Beginning of Period Cash at End of Period . $ eTextbook and Media Save for Later Attempts: 1 of 3 used Submit Answer 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 flow $ Show transcribed image text