The answer is NOT -$15,900.

Presented below are the financial statements of Novak Company. Novak Company Comparative Balance Sheets December 31 Assets 2017 Cash $ 37,100 Accounts receivable 21,200 Inventory 29,680 Property, plant, and equipment 63,600 Accumulated depreciation (33,920) Total $117,660 2016 $ 21,200 14.840 21.200 82,680 (25,440 $114.480 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 20,140 7,420 18,020 19,080 53,000 $117,660 $ 15,900 8,480 34,980 14,840 40.280 $114.480 Novak Company Income Statement For the Year Ended December 31, 2017 Sales revenue $256,520 Cost of goods sold 185,500 Gross profit 71.020 Selling expenses $19.080 Administrative expenses 6.360 25,440 Income from operations 45,580 Interest expense 3,180 Income before income taxes 42,400 Income tax expense 8.480 Net income $33.920 Additional data: 1. Depreciation expense was $18,550. 2. Dividends declared and paid were $21.200. 3. During the year equipment was sold for $9,010 cash. This equipment cost $19,080 originally and had accumulated depreciation of $10,070 at the time of sale. Your answer is incorrect. Compute free cash flow. (Show a negative free cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000).) Free cash flow $