-mail: ibba@siam.edu Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment Total Accounts payable Bonds payable Common stock Retained earnings Total 2022 $ 28,200 24,200 23,000 60,000 (14,000) $121,400 $ 19,600 10,000 60,000 31,800 $121,400 2021 $ 17,700 22,300 16,000 70,000 (10,000) $116,000 Instructions a. Prepare a statement of cash flows for 2022 using the indirect method. b. Compute free cash flow. $11,100 30,000 45,000 29,900 $116,000 Additional information: 1. Net income was $28,300. Depreciation expense was $5,200. Dividends declared and paid were $26,400. 2. Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $4,300. 3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation.