Rodriquez Corporation's comparative balance sheets are presented below

Additional information:
1. Net income was $18,300. Dividends declared and paid were $16,400.
2. Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300.
3. No noncash investing and financing activities occurred during 2019.
Instructions
(a) Prepare a statement of cash flows for 2019 using the indirect method.
(b) Compute free cash flow.

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RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2019 2018 Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment 15,200 25,200 20,000 60,000 (14,000) $106,400 $17,700 22,300 16,000 70,000 (10,000) $116,000 Total Accounts payable Bonds payable Common stock Retained earnings $ 14,600 10,000 50,000 31,800 $106,400 11,100 30,000 45,000 29,900 $116,000 Total