The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 Cash $34,550 Accounts receivable 32,450 Inventory 26,950 Equipment 59,000 Accumulated depreciation-equipment (29,150) Total $123,800 2019 $19,200 19,050 20,200 78,000 (23,450) $113,000 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,550 7,500 27,800 18,250 41,700 $123,800 $ 16,450 8,300 32,400 13,800 42,050 $113,000 NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $242,800 176,700 66,100 23,000 43,100 2,250 40,850 8,400 $32,450 Additional data: 1. Dividends declared and paid were $32,800. 2. During the year, equipment was sold for $8,050 cash. This equipment cost $19,000 originally and had a book value of $8,050 at the time of sale. 3. All depreciation expense, $16,650, is in the operating expenses. 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 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Free Cash Flow Click if you would like to Show Work for this question: Open Show Work