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The following are the financial statements of Monty Corp.. Monty Corp. Comparative Balance Sheets December 31 Assets 2020 2019 Cash $37,600 $20,700 Accounts receivable 32,200

The following are the financial statements of Monty Corp..

Monty Corp. Comparative Balance Sheets December 31

Assets

2020

2019

Cash

$37,600

$20,700

Accounts receivable

32,200

18,000

Inventory

29,800

20,200

Equipment

59,800

77,100

Accumulated depreciationequipment

(29,600

)

(23,200

)

Total

$129,800

$112,800

Liabilities and Stockholders Equity

Accounts payable

$28,700

$16,900

Income taxes payable

7,500

8,000

Bonds payable

26,200

33,200

Common stock

19,000

13,200

Retained earnings

48,400

41,500

Total

$129,800

$112,800

Monty Corp. Income Statement For the Year Ended December 31, 2020

Sales revenue

$242,800

Cost of goods sold

176,500

Gross profit

66,300

Operating expenses

23,900

Income from operations

42,400

Interest expense

3,900

Income before income taxes

38,500

Income tax expense

7,600

Net income

$30,900

Additional data:

1. Dividends declared and paid were $24,000.
2. During the year, equipment was sold for $9,600 cash. This equipment cost $17,300 originally and had a book value of $9,600 at the time of sale.
3. All depreciation expense, $14,100, is in the operating expenses.
4. All sales and purchases are on account.

Compute free cash flow.

Free cash flow

$enter Free cash flow in dollars

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