The following are the financial statements of Carla Vista Company. 2020 CARLA VISTA COMPANY Balance Sheet December 31 Assets 2021 Cash $34,200 Accounts receivable 27,000 Inventory 24,300 Equipment 54,000 Accumulated depreciation-equipment (26.100) Total $113,400 Liabilities and Shareholders' Equity Accounts payable $21,600 Income taxes payable 6,300 Notes payable 24,300 Common shares 16,200 Retained earnings 45,000 Total $113,400 $18,000 12,600 18,000 70,200 (21,600 $97,200 $13,500 7,200 29,700 12,600 34,200 $97,200 CARLA VISTA COMPANY Income Statement For the Year Ended December 31, 2021 Sales $217,800 Cost of goods sold 157,500 Gross profit 60,300 Operating expenses 21,600 Income from operations 38,700 Interest expense 2,700 Income before income taxes 36,000 Income tax expense 7.200 Profit $28,800 Additional Information: 1. Dividends declared and paid were $18,000. Carla Vista reports under ASPE. During the year, equipment was sold for $7,650 cash. This equipment cost $16,200 originally and had a carrying value of 2. $7,650 at the time of sale. 3. All depreciation expense, $13,050, 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).) CARLA VISTA COMPANY Cash Flow Statement - Indirect Method $ Adjustments to reconcile profit to $ $ $ $ eTextbook and Media Calculate free cash flow. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Free cash flow $ eTextbook and Media