Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31.

Additional information:Investments were sold at a loss (not extraordinary) of $7,000; no equipment was sold; cash dividends paid were $50,000; and net income was $160,000.Instructions(a) Prepare a statement of cash flows for 2012 for Sondergaard Corporation.(b) Determine Sondergaard Corporation??s free cashflow.

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2011 2012 $ 78,000 185,000 74,000 240,000 Cash Accounts receivable Investments Equipment Less: Accumulated depreciation-equipment Current liabilities Capital stock Retained earnings $157,000 52,000 298,000 (106,000) 134,000 160,000 287.000 (89,000) 151.000 160,000 177.000