Waterway Corporation's comparative balance sheets are as follows. WATERWAY CORPORATION Comparative Balance Sheets December 31 Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment Total 2022 2021 $16,700 $17,600 24,900 22,000 19,850 16,250 59,950 69,950 (14,050) (10,300) $107,350 $115,500 Accounts payable $14,650 $11,050 Bonds payable 10,500 30,000 Common stock 49,900 44,900 Retained earnings 32,300 29,550 Total $107,350 $115,500 Additional information: 1. Net income was $18,650. Dividends declared and paid were $15,900. 2. Equipment which cost $10,000 and had accumulated depreciation of $1,700 was sold for $3,400. 3. No noncash investing and financing activities occurred during 2022. 4. Bonds were retired at their carrying value. Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Loss on Disposal of Plant Assets Increase in Accounts Receivable Increase in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Purchase of Investments Net Cash Used by Investing Activities Cash Flows from Financing Activities Issuance of Common Stock Retirement of Bonds Payment of Dividends Net Cash Used by Financing Activities Net Decrease in Cash Cash at Beginning of Period Cash at End of Period 5450 4900 -2900 3600 3400 -3600 5000 -19500 -15900 18650 11,050 29700 -200 i -30400 -900 17600 $ 16700 Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash flow $