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

                    

Additional information:

Investments were sold at a loss (not extraordinary) of $10,000; no equipment was sold; cash dividends paid were $30,000; and net income was $160,000.

Instructions
  (a) Prepare a statement of cash flows for 2014 for Zubin Mehta Corporation.
  (b) Determine Zubin Mehta Corporation’s free cash flow.