Question: help i am studying (7) Presented here are the financial statements of Crane Company. 1. Depreciation expense was $16,000. 2. Dividends declared and paid were

help i am studying (7)  help i am studying (7) Presented here are the financial statements
of Crane Company. 1. Depreciation expense was $16,000. 2. Dividends declared and
paid were $21,780. 3. During the year, equipment was sold for $8,800
cash. This equipment originally cost $18,400 and had accumulated depreciation of $9,600

Presented here are the financial statements of Crane Company. 1. Depreciation expense was $16,000. 2. Dividends declared and paid were $21,780. 3. During the year, equipment was sold for $8,800 cash. This equipment originally cost $18,400 and had accumulated depreciation of $9,600 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Further analysis reveais the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. 4. All sales and inventery purchases are on account, Hflow with eitherd-slynes, -15,000 Compute free cash flow. (Enter negative amount using either a negative sign preceding the numbe Free cash flow $

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