Question 3 of 4 > > 2.42/5 E E View Policies Show Attempt History Current Attempt in Progress Metlock, Inc.'s comparative balance sheets are presented below. Metlock, Inc. Comparative Balance Sheets December 31 2022 2021 Cash $15.000 $10,700 Accounts receivable 21.100 23,900 Land 19.700 25,900 Buildings 70.000 70,000 Accumulated depreciation-buildings (15.300 (10,700) Total $110.500 $119,800 Accounts payable $11.900 $ 31,600 Common stock 75,400 69,300 lila Retained earnings 23.200 18,900 Total $110.500 $119,800 Additional information 1 1. Net income was $22,900. Dividends declared and paid were $10,000. $. No noncash investing and financing activities occurred during 2022. 2. 3. The land was sold for cash of $4,900. (a) Your Answer Correct Answer - Your answer is partially correct. ------ Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-signeg. -15,000 or in parenthesis es (15,0001) Metlock, Inc. Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities V Net Income V 22900 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense V 4600 Loss on Disposal of Plant Assets 1300 Decrease in Accounts Receivable V 2800 Decrease in Accounts Payable -19700 -11000 Net Cash Provided by Operating Activities V 11900 Cash Flows from Investing Activities Sale of Land 4900 Cash Flows from Investing Activities v Payment of Dividends V -18600 Issuance of Common Stock 6100 Net Cash Used by Financing Activities -12500 Net Increase in Cash V 4300 Cash at Beginning of Period 10700 Cash at End of Period 15000 e Textbook and Media Solution Attempts: 3 of 3 used (b) Your answer is incorrect. Compute free cash flow. (Enter negative amount using either a negative sign preceding the numbereg.-45 or parentheses eg. (451) Free cash flow e Textbook and Media Save for Later Attempts: 2 of 3 used Submit