The following are the financial statements of Blue Spruce Corp..

Additional data:

1.		Dividends declared and paid were $22,500.
2.		During the year, equipment was sold for $9,600 cash. This equipment cost $18,300 originally and had a book value of $9,600 at the time of sale.
3.		All depreciation expense, $14,500, is in the operating expenses.
4.		All sales and purchases are on account.

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Cash Blue Spruce Corp Comparative Balance Sheets December 31 Assets 2020 $36,900 Accounts receivable 32,800 Inventory 29,300 Equipment 59,400 Accumulated depreciation-equipment (29,300) Total $129,100 2019 $20,800 18,100 20,700 77,700 (23,500) $113,800 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,400 7,000 26,400 18,100 49,200 $129,100 $16,600 8,000 33,900 14,900 40,400 $113,800 Blue Spruce Corp. Income Statement For the Year Ended December 31, 2020 Sales revenue $242,600 Cost of goods sold 176,600 Gross profit 66,000 Operating expenses 24,400 Income from operations 41,600 Interest expense 2,400 Income before income taxes 39,200 Income tax expense 7,900 Net income $31,300 Blue Spruce Corp. Statement of Cash Flows $ Adjustments to reconcile net income to > $ > > $ Compute free cash flow. Free cash flow $