Exercise 12-08 a-b Concord Corporation's comparative balance sheets are presented below. Concord Corporation Comparative Balance Sheets December 31 2019 2018 Cash $ 14,500 $ 10,700 Accounts receivable 20,800 23,800 Land 19,600 26,300 Buildings 70,100 70,100 Accumulated depreciation-buildings (15,000) (10,700) Total $110,000 $120,200 Accounts payable Common stock Retained earnings Total $ 11,800 75,000 23,200 $110,000 $ 28,300 73,400 18,500 $120,200 Additional information: 1. Net income was $22,800. Dividends declared and paid were $18,100. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold for cash of $4,600. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts ti Concord Corporation Statement of Cash Flows For the Year Ended December 2020 Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts Concord Corporation Statement of Cash Flows | For the Year Ended December 31, 2020 > Cash Flows from Operating Activities Net Income $ 22,800 Adjustments to reconcile net income to Depreciation Expense Decrease in Accounts Receivable v 21000 Decrease in Accounts Payable 16500 Loss on Disposal of Plant Assets K - Compute free cash flow. (Enter negative amount using either a negative sign preceding the number .. .45 or parentheses e.. (45).) Free cash flow $