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Use the income statement shown next to calculate free cash flow for Rainier Printing for 2021. In addition to the information in the income statement,

Use the income statement shown next to calculate free cash flow for Rainier Printing for 2021. In addition to the information in the income statement, assume that Rainier had $720,000 in capital expenditures and $520,000 in working capital investments during 2021. Rainier Printing Income Statement January 1 to December 31, 2021 ($ thousands) Net sales $ 11,400 Cost of sales 7,200 Gross profit 4,200 Operating expense 1,220 Depreciation expense 670 Operating income 2,310 Interest expense 370 Income before tax 1,940 Tax 582 Income after tax $ 1,358 Note: Enter your answer in thousands

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