The following information is taken from the 2015 general ledger of Swisher Company Rent $47,450 5,850 Rent expense Prepaid rent, January 1 Prepaid rent, December 31 9,000 Salaries Salaries and wages expense Salaries and wages payable, January 1 Salaries and wages payable, December 31 $53,070 10,340 8,470 Sales revenue Sales $169,160 15,030 6,540 Accounts receivable, January 1 Accounts receivable, December 31 In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct method Cash payments for rent Cash payments for salaries Cash receipts from customers Obermeyer Corporation issued the following statement of cash flows for 2015 OBERMEYER CORPORATION Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2015 Cash flows from operating activities Net income $56,790 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense Loss on disposal of equipment Increase in inventory Decrease in accounts receivable $9,000 9,690 (5,090) 3,270 (2,020) 14,850 Decrease in accounts payable Net cash provided by operating activities Cash flows from investing activities Sale of investments 71,640 2,970 Purchase of equipment Net cash used by investing activities Cash flows from financing activities Issuance of stock (28 180) (25,210) 18,210 (12,670) (16,410) Payment on long-term note payable Payment for dividends Net cash used by financing activities Net increase in cash (10,870 35,560 Cash at beginning of year Cash at end of year Compute free cash flow for Obermeyer Corporation Free cash flow for Obermeyer Corporation 43,460