Transcribed image text: December 31 Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 2022 $ 38,500 22,000 30,800 66,000 (35,200 ) $122,100 2021 $ 22,000 15,400 22,000 85,800 (26,400) $118,800 $ 16,500 8.800 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $ 20,900 7,700 18.700 19.800 36,300 15,400 S5,000 $122.100 $118,30 $266,200 192.500 73,700 Marigold Conany Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross profit Selling expenses $19,800 Administrative expenses 6.600 Income from operations Interest expense Income before income taxes Income tax expense 26,400 47,300 300 44.000 8.800 Net income $ 35,200 Additional data: 1. Depreciation expense was 519,250 2. Dividends declared and paid were $22,000. 3. During the year equipment was sold for 59,350 cash. This equipment cost $19,800 originally and had accumulated depreciation of $10,450 at the time of sale. Marigold Company Statement of Cash Flows Adjustments to reconcile et c e to Compute free cash flow. (Show a negative free cash flow with either a sign .g. - 15,000 or in parenthesis e.g. (15,000).) Free cash flow