The comparative balance sheets of Madrasah Corporation at the beginning and end of the year 2014 appear below.

MADRASAH CORPORATION BALANCE SHEETS
		Dec. 31, 2014			Jan. 1, 2014			Inc./Dec.
Assets
Cash		$21,620			$14,153			$7,467	Inc.
Accounts receivable		107,620			89,153			18,467	Inc.
Equipment		40,620			23,153			17,467	Inc.
Less: Accumulated Depreciation-Equipment		(17,000	)		(11,000	)		6,000	Inc.
Total		$152,860			$115,459
Liabilities and Stockholders Equity
Accounts payable		$21,620			$16,153			5,467	Inc.
Common stock		101,620			81,153			20,467	Inc.
Retained earnings		29,620			18,153			11,467	Inc.
Total		$152,860			$115,459

Net income of $45,620 was reported, and dividends of $34,153 were paid in 2014. New equipment was purchased and none was sold.

Compute free cash flow for the year 2014