The following are the financial statements of Sheffield Corp Sheffield Corp. Comparative Balance Sheets Assets Cash Accounts receivable Inventory Equipment 2019 2018 $37,400 $19,100 32,000 19,700 29,600 20,100 59,600 78,000 Accumulated depreciation-equipment (29,600) (23,500) $129,000 $113,400 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,100 $16,000 8,100 27,400 32,200 18,300 13,300 43,800 $129,000 $113,400 7,000 48,200 Total Sheffield Corp. Income Statement For the Year Ended December 31, 2019 $242,400 176,800 65,600 23,400 42,200 3,000 Income before income taxes 39,200 9,000 $30,200 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income tax expense Net income Additional data: 1. Dividends declared and paid were $25,800 2. During the year, equipment was sold for $9,800 cash. This equipment cost $18,400 originally and had a book value of $9,800 at the time of sale 3. All depreciation expense, $14,700, 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 th (15,000).) Sheffield Corp. Statement of Cash Flow Adjustments to reconcile net income to Compute free cash flow Free cash flow