Sheffield Corporation's comparative balance sheets are as follows. Cash Accounts receivable Investments Equipment SHEFFIELD CORPORATION Comparative Balance Sheets December 31 Accumulated depreciation-equipment Total Accounts payable Bonds payable 2022 2021 $16,700 $17,500 25,100 22,300 19,850 15,850 60,050 69,950 (14,150) (10,100) $107,550 $115,500 $14,750 $11,150 11,000 30,000 Equipment Accumulated depreciation-equipment Total 60,050 69,950 (14,150) (10,100) $107,550 $115,500 Accounts payable $14,750 $11,150 Bonds payable 11,000 30,000 Common stock 49,900 45,300 Retained earnings 31,900 29,050 Total $107,550 $115,500 Additional information: 1. Net income was $18,250. Dividends declared and paid were $15,400. 2. Equipment which cost $9,900 and had accumulated depreciation of $2,000 was sold for $3,400. Additional information: 1. Net income was $18,250. Dividends declared and paid were $15,400. 2. Equipment which cost $9,900 and had accumulated depreciation of $2,000 was sold for $3,400. 3. No noncash investing and financing activities occurred during 2022. 4. Bonds were retired at their carrying value. (a) Prepare a statement of cash flows for 2022 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).) SHEFFIELD CORPORATION Statement of Cash Flows (a) Prepare a statement of cash flows for 2022 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).) SHEFFIELD CORPORATION Statement of Cash Flows Adjustments to reconcile net income to $ A Adjustments to reconcile net income to $ > > > > A > > A > > A > > > > (b) 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 $