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Exercise 17-7 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total $14,800 21,500 20,300 70,000 (14,600 ) $112,000 $10,300 23,500 26,400 70,000 (10,400) $119,800 Accounts payable Common stock Retained earnings Total $12,200 74,400 25,400 $112,000 $28,600 74,000 17,200 $119,800 Additional information: 1. Net income was $22,900. Dividends declared and paid were $14,700. 2. No noncash investing and financing activities occurred during 2017 3. The land was sold for cash of $4,500. ROJAS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 T Cash Flows from Operating Activities - 22900 T Net Income Adjustments to reconcile net income to * Net Cash Provided by Operating Activities T Depreciation Expense ] T Sale of Land - T Decrease in Accounts Payable 6400 1 Decrease in Accounts Payable ! -8600 14300 T Net Cash Provided by Operating Activities FULL SCREEN PRINT T Issuance of Common Stock T Payment of Dividends T Net Cash Used by Financing Activities : 14300 T Net Increase in Cash Cash at Beginning of Period Cash at End of Period x Your answer is incorrect. Try again. Compute free cash flow. (Enter negative amount using either a negative sign preceding the number eg.-45 or parentheses .. (45). Free cash flow 14300 Question Attempts: 1 of 3 used