Rusco Company Income Statement For This Year Ended July 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating Items: Gain on sale of Investments $27,099 Loss on sale of equipment (8,800) Income before taxes Income taxes Net income $1,980,000 675, 080 405,000 288,900 116, 100 18,200 134,300 40,220 94,880 $ The following additional information is available for this year a. The company declared and paid a cash dividend. b. Equipment was sold during the year for $55,200. The equipment originally cost $118,000 and had accumulated depreciation of $54,000 c Long-term investments that cost $58,000 were sold during the year for $85,000 d. The company did not retire any bonds payable or repurchase any of its common stock Required: 1 Using the indirect method, compute the net cash provided by used in operating activities for this year. 2. Prepare a statement of cash flows for this year 3. Compute free cash flow for this year