using the information given please annswer part (b) Compute free cash flow

Bonita Corporation's comparative balance sheets are as follows. BONITA CORPORATION Comparative Balance Sheets December 31 2022 2021 Cash $16,500 $17,600 Accounts receivable 25,000 22,200 Investments 19,950 15,850 Equipment 60,150 70,050 Accumulated depreciation-equipment (14,250) (10,400) Total $107,350 $115,300 Accounts payable $14,850 $11,050 Bonds payable 10.100 30,100 Common stock 50,100 44.700 Retained earnings 32,300 29.450 Total $107.350 $115,300 Additional information: Additional information 1. 2. Net income was $18,250. Dividends declared and paid were $15,400. Equipment which cost $9,900 and had accumulated depreciation of $2,000 was sold for $3,400. No noncash investing and financing activities occurred during 2022. Bonds were retired at their carrying value. 3. 4. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a- signes -15,000, or in parenthesis es. (15,0001) BONITA CORPORATION Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income 18.250 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ 5.850 Loss on Disposal of Plant Assets 4,500 Increase in Accounts Receivable (2800) Increase in Accounts Payable 3,800 11350 Net Cash Provided by Operating Activities 29.600 Cash Flows from Investing Activities v Increase in Accounts Payable 3,800 11.350 Net Cash Provided by Operating Activities 29,600 Cash Flows from Investing Activities Sale of Equipment 3400 Purchase of Investments (4.100) Net Cash Used by Investing Activities (700) i Cash Flows from Financing Activities Retirement of Bonds V $ (20.000) Issuance of Common Stock 5,400 Payment of Dividends (15,400) Net Cash Used by Financing Activities (30,000) Net Decrease in Cash Cash at Beginning of Period (1.100) Cash at End of Period 17,600 Rt Links 16.500 E HD Cash Flows from Financing Activities Retirement of Bonds v $ (20,000) Issuance of Common Stock 5,400 Payment of Dividends (15,400) Net Cash Used by Financing Activities (30,000) Net Decrease in Cash (1,100) Cash at Beginning of Period 17,600 Cashot End of Period 16.500 e Textbook and Media Solution (b) Your answer is incorrect. Compute free cash flow. (Enter negative amount using either a negative sin preceding the numberes.-45 or parentheses es. (451 Free cash flow 5