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.

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