Statement of cash flows & free cash flow

Comparative financial statement data for Holly Company are given below December 31 This Last Year Year Assets Cash Accounts receivable Inventory 36 29 75 61 115 97 210 180 Total current assets Property. plant, and equipment Less accumulated depreciation Net property. plant, and equipment Total assets 40 30 170 150 S285 $247 Liabilities and Stockholders' equity Accounts payable Common stock Retained earnings s 45 $ 39 90 70 150 138 Total liabilities and stockholders equity $285 $247 For this year, the company reported net income as follows $500 Sales Cost of goods sold 300 200 180 s 20 Gross margin Selling and administrative expenses Net income This year Holly declared and paid a cash dividend. There were no sales of plant and equipment during this year. The company did not repurchase any of its own stock this year Required: 1. Using the indirect method, prepare a statement of cash flows for this year. (Amounts to be deductes and negative amounts should be indicated with a minus sign.) Statement of Cash Flows For This Year Ended December 31 Operating activities (Click to select) tments to convert net income to a cash basis Click to select) Click to select) Click to select)