Solve for the free cash flow please

Comparative Balance Sheets December 31 Assets 2022 Cash $38,000 Accounts receivable 32,900 Inventory 30,600 Property, plant, and equipment 59,400 Accumulated depreciation (30,000) Total $130,900 2021 $21,000 19,500 20,300 77,700 (23,200) $115,300 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,600 7,000 27,600 18,600 49,100 $130,900 $16,700 8,100 32,000 13,700 44,800 $115,300 Pharoah Company Income Statement For the Year Ended December 31, 2022 Sales revenue $242,500 Cost of goods sold 176,500 Gross profit 66,000 Selling expenses $17,550 Administrative expenses 5,850 23,400 Income from operations 42,600 Interest expense 2,900 Income before income taxes 39,700 Income tax expense 7,940 Net income $31,760 Additional data: 1. 2. Depreciation expense was $16,500. Dividends declared and paid were $27,460. During the year equipment was sold for $8,600 cash. This equipment cost $18,300 originally and had accumulated depreciation of $9,700 at the time of sale. 3. Pharoah Company Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income $ 31,760 Adjustments to reconcile net income to Net Cash Provided by Operating Activities V Depreciation Expense $ 16500 Increase in Accounts Receivable - 13400 Increase in Inventory - 10300 Increase in Accounts Payable 11900 Decrease in Income Taxes Payable V - 1100 3600 Net Cash Provided by Operating Activities V 35360 Cash Flows from Investing Activities Sale of Equipment 8600 Cash Flows from Financing Activities Payment of Dividends -27,460 Redemption of Bonds -4400 Issuance of Common Stock 4900 Redemption of Bonds -4400 Issuance of Common Stock 4900 Net Cash Used by Financing Activities -26960 Net Increase in Cash 17000 Cash at Beginning of Period 21000 Cash at End of Period $ 38000 e Textbook and Media Solution Attempts: 3 of 3 used (b) Compute free cash flow. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Free cash flow $