Exercise 17-7 Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $15,000 21,100 19,700 70.000 (15.300) $10,700 23,900 25,900 70,000 (10,700) $119,800 Total $110.500 Accounts payable Common stock Retained earnings $11,900 75.400 23,200 $110.500 $28,600 72,300 18,900 $119,800 Total Additional information: 1. Net income was $22,900. Dividends declared and paid were $18,600. 2. No noncash investing and financing activities occurred during 2017 3. The land was sold for cash of $4,900. Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000, or in parenthesis e.g. (15,000).) ROJAS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income 22900 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 4600 Decrease in Accounts Payable Decrease in Accounts Receivable Loss on Disposal of Land Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Land Cash Flows from Financing Activities Issuance of Common Stock Payment of Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period $ Cash at End of Period Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash flow Click if you would like to Show Work for this question: Open Show Work