The comparative balance sheets of Flounder Corporation at the beginning and end of the year 2017 appear below FLOUNDER CORPORATION BALANCE SHEETS Dec. 31, 2017 Jan. 1, 2017 Inc./Dec Assets Cash Accounts receivable Equipment Less: Accumulated Depreciation-Equipment $21,380 107,380 40,380 $14,480 $6,900 Inc 89,480 17,900 Inc. 23,480 16,900 Inc (17,000) (11,0006,000 Inc. $152,140 $116,440 Total Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $21,380 101,380 29,380 $152,140 4,900 Ind. 81,480 19,900 Inc. 18,48010,900 Inc. $16,480 Total $116,440 Net income of $45,380 was reported, and dividends of $34,480 were paid in 2017. New equipment was purchased and none was sold FLOUNDER CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income 45,380 Adjustment to reconcile net income to Cash at Beginning of Year Depreciation Increase in Accounts Payable 4,900; Decrease in Accounts Receivable Cash Flows from Investing Activities Compute the current ratio (current assets current liabilities) as of January 1, 2017, and December 31, 2017. (Round ratios to 1 decimal place, eg, 4.5.) December 31, 2017 January 1, 2017 Current ratio Compute free cash flow for the year 2017. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) Free Cash Flow