The following is a condensed version of the comparative balance sheets for Headland Corporation for the last two years at December 31.

		2020			2019
Cash		$ 274,350			$ 120,900
Accounts receivable		279,000			286,750
Investments		80,600			114,700
Equipment		461,900			372,000
Accumulated Depreciation-Equipment		(164,300	)		(137,950	)
Current liabilities		207,700			234,050
Common stock		248,000			248,000
Retained earnings		475,850			274,350

Additional information: Investments were sold at a loss of $15,500; no equipment was sold; cash dividends paid were $46,500; and net income was $248,000.

1) Determine Headland Corporations free cash flow: