McKnight Exercise Equipment, Inc. reported the following statement of cash flows for 2016: (Click the icon...

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McKnight Exercise Equipment, Inc. reported the following statement of cash flows for 2016: (Click the icon to view the statement of cash flows.) McKnight plans to purchase a truck for $23,000 and a forklift for $119,000 next year. In addition, it plans to pay cash dividends of $2,500. Assuming McKnight plans similar activity for 2017, what would be the amount of free cash flow? (Abbreviations used: Cash pmts for planned invest. = Cash payments for planned investments in long-term assets; NCFA = Net cash provided by financing activities; NCOA = Net cash provided by operating activities. Use parentheses or a minus sign to show negative free cash flow.) Select the labels and enter the amounts to calculate McKnight's free cash flow for 2017. Free cash flow Statement of Cash Flows Year Ended December 31, 2016 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense Increase in Accounts Receivable Decrease in Merchandise Inventory Increase in Accounts Payable Decrease in Salaries Payable Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets Cash Payment for Investments Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Cash Payment of Dividends Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2015 Cash Balance, December 31, 2016 50,000 (4,000) 8,000 2,000 (1,000) (93,000) (18,000) (67,000) (5,000) 13,000 $ 69 $ 119,000 55,000 174,000 (111,000) (59,000) 4,000 14,000 18,000 McKnight Exercise Equipment, Inc. reported the following statement of cash flows for 2016: (Click the icon to view the statement of cash flows.) McKnight plans to purchase a truck for $23,000 and a forklift for $119,000 next year. In addition, it plans to pay cash dividends of $2,500. Assuming McKnight plans similar activity for 2017, what would be the amount of free cash flow? (Abbreviations used: Cash pmts for planned invest. = Cash payments for planned investments in long-term assets; NCFA = Net cash provided by financing activities; NCOA = Net cash provided by operating activities. Use parentheses or a minus sign to show negative free cash flow.) Select the labels and enter the amounts to calculate McKnight's free cash flow for 2017. Free cash flow Statement of Cash Flows Year Ended December 31, 2016 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense Increase in Accounts Receivable Decrease in Merchandise Inventory Increase in Accounts Payable Decrease in Salaries Payable Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets Cash Payment for Investments Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Cash Payment of Dividends Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2015 Cash Balance, December 31, 2016 50,000 (4,000) 8,000 2,000 (1,000) (93,000) (18,000) (67,000) (5,000) 13,000 $ 69 $ 119,000 55,000 174,000 (111,000) (59,000) 4,000 14,000 18,000