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Do It! Review 12-3

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Metlock Corporation issued the following statement of cash flows for 2017.

Metlock Corporation Statement of Cash FlowsIndirect Method For the Year Ended December 31, 2017
Cash flows from operating activities
Net income					$201,544
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation expense		$ 31,086
Decrease in accounts receivable		32,452
Increase in inventory		(17,080	)
Decrease in accounts payable		(7,515	)
Loss on disposal of plant assets		11,273			50,216
Net cash provided by operating activities					251,760
Cash flows from investing activities
Sale of investments		10,590
Purchase of equipment		(82,667	)
Net cash used by investing activities					(72,077	)
Cash flows from financing activities
Issuance of stock		68,320
Payment on long-term note payable		(34,160	)
Payment for dividends		(44,408	)
Net cash used by financing activities					(10,248	)
Net increase in cash					169,435
Cash at beginning of year					44,408
Cash at end of year					$213,843

(a) Compute free cash flow for Metlock Corporation. (Show a negative free cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Free cash flow for Metlock Corporation

$

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