Windsor, Inc. Income Statement Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense For the Year Ended December 31, 2019 $242,500 175,200 67,300 24,900 42,400 2,700 Income before income taxes 39,700 7,400 $32,300 Income tax expense Net income Comparative Balance Sheets December 31 ssets Cash Accounts receivable Inventory Equipment 2019 2018 $36,000 $21,000 32,70018,900 30,100 20,100 59,60077,600 Accumulated depreciation-equipment (29,400) (23,300) $129,000 $114,300 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,000$16,800 7,2008,400 26,700 32,100 17,700 13,400 49,400 43,600 $129,000 $114,300 Total Windsor, Inc. Income Statement For the Year Ended December 31, 2019 $242,500 175,200 Sales revenue Cost of goods sold or tuie ear Ended December 31, 2019 Cash Flows from Operating Activities Net Income 32300 Adjustments to reconcile net income to Net Cash Provided by Operating Activities v Depreciation Expense 14500 Increase in Accounts Receivable -13800 Increase in Inventory -10000 Increase in Accounts Payable 11200 Decrease in Income Taxes Payable v -1200 700 Net Cash Provided by Operating Activities v 33000 Net Cash Provided by Operating Activities 33000 Cash Flows from Investing Activities Sale of Equipment 9600 Cash Flows from Financing Activities Payment of Dividends 26500 Issuance of Common Stock 4300 5400 Redemption of Bonds 27600 Net Cash Used by Financing Activities 15000 Net Increase in Cash 21000 Cash at Beginning of Period 36000 Cash at End of Period Compute free cash flow. Free cash flow