The following are the financial statements of Oriole Ltd. Common shares \begin{tabular}{rr} 20,160 & 15,680 \\ \hline$141,12056,000 & 42,560 \\ \hline \end{tabular} ORIOLE LTD. Income Statement For the Year Ended December 31, 2024 Sales $271,040 CostofgoodssoldGrossprofit196,00075,040 \( \begin{array}{lr}\text { Operating expenses } & 26,880 \\ { } } & 48,160\end{array} \) \begin{tabular}{lr} Interest expense & 3,360 \\ \cline { 2 - 2 } Profit before income tax & 44,800 \end{tabular} Income tax expense Profit for the year $35,840 1. Dividends declared and paid were $22,400. Oriole reports under IFRS and does not report dividends as operating activities. 2. During the year, equipment was sold for $9,520cash. This equipment cost $20,160 originally and had a carrying value of $9.520 at the time of sale. 3. All depreciation expense, $16,240, is included in the operating expenses. 4. All sales and purchases are on account. ORIOLE LTD. Cash Flow Statement - Indirect Method Adjustments to reconcile profit to $ Calculate free cash flow. (Show amounts that decrease cash flow with either a - sign e.g. - 15,000 or in parenthesiseg. Free cash flow