XYZ Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance Assets: Cash and cash equivalents $34 $27 Accounts receivable 52 61 Inventory 41 40 Property, plant and equipment 531 460 Less accumulated depreciation 330 291 Total assets $328 $297 Liabilities and stockholders' equity: Accounts payable $98 $109 Bonds payable 65 60 Common stock 71 70 Retained Earnings 94 58 total liabilities and stockholders' equity $328 $297 Income Statement Sales $515 Cost of goods sold 312 Gross margin 203 Selling and administrative expense 134 Net operating income 69 Income taxes 21 Net income $48 Prepare a statement of cash flows using the indirect method. Cash dividends were $12. PROBLEM #2 XYZ Corporation's net cash provided by operating activities was $80,000; its net income was $55,000; its capital expenditures were $72,000; and its cash dividends were $14,000. Required: Determine the company's free cash flow