data for nosker company are presented in p13-7a. further analysis

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data for nosker company are presented in p13-7a. further analysis reveals the following.1. accounts payable pertain to merchandise suppliers.2. all operating expenses except for depreciation were paid in cash.in p13-7a, presented below are the financial statements of nosker company._div align="center"__img src="../image/images5/63-a (4285).png"/__/div_nosker companyincome statementfor the year ended december 31, 2015sales revenue ……………………………………. $242,000cost of goods sold ……………………………… 175,000gross profit ……………………………………... 67,000operating expenses ……………………………… 24,000income from operations ………………………… 43,000interest expense ………………………………… 3,000income before income taxes ……………………. 40,000income tax expense …………………………….. 8,000net income ……………………………………… $ 32,000additional data:1. dividends declared and paid were $20,000.2. during the year equipment was sold for $8,500 cash. this equipment cost $18,000 originally and had a book value of $8,500 at the time of sale.3. all depreciation expense, $14,500, is in the operating expenses.4. all sales and purchases are on account.instructions(a) prepare a statement of cash flows for nosker company using the direct method.(b) compute free cashflow.
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