The following are the financial statements of Nosker Company.

NOSKER COMPANY Comparative Balance Sheets December 31

Assets 2017 2016

Cash $37,700 $20,000

Accounts receivable 32,300 18,300

Inventory 30,200 20,200

Equipment 59,700 77,400

Accumulated depreciationequipment (29,400 ) (23,500 )

Total $130,500 $112,400

Liabilities and Stockholders Equity Accounts payable $28,100 $ 16,900

Income taxes payable 7,500 8,400

Bonds payable 26,900 32,400

Common stock 17,600 14,000

Retained earnings 50,400 40,700

Total $130,500 $112,400

NOSKER COMPANY Income Statement For the Year Ended December 31, 2017

Sales revenue $242,600

Cost of goods sold 175,300

Gross profit 67,300

Operating expenses 24,900

Income from operations 42,400

Interest expense 3,100

Income before income taxes 39,300

Income tax expense 7,000

Net income $32,300

Additional data: 1. Dividends declared and paid were $22,600. 2. During the year equipment was sold for $9,600 cash. This equipment cost $17,700 originally and had a book value of $9,600 at the time of sale. 3. All depreciation expense, $14,000, 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).)

NOSKER COMPANY Statement of Cash Flows $ Adjustments to reconcile net income to $ $ LINK TO TEXT LINK TO TEXT

Compute free cash flow. Free cash flow $