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please calculate the last part of the question only. CALCULATE FREE CASH FLOW (b) part

Wildhorse Shoes' comparative balance sheet is presented below. Wildhorse reports under ASPE. WILDHORSE SHOES Balance Sheet December 31 Assets 2021 2020 Cash $33,276 $20,886 28,556 26,314 Accounts receivable Long-term investments 27,140 18,880 Equipment 70,800 82,600 Accumulated depreciation-equipment (16,520) (11,800) Total $143,252 $136,880 Liabilities and Shareholders' Equity Accounts payable Notes payable $23,128 $13,098 11,800 35.400 Total 143,252 30,000 $23,128 $13,098 Liabilities and Shareholders' Equity Accounts payable Notes payable Common shares Retained earnings 11,800 35,400 70,800 53,100 37,524 35,282 Total $143,252 $136,880 Additional Information: 1. Profit was $33,394. Dividends declared and paid were $31,152. 2 Equipment that cost $11,800 and had accumulated depreciation of $1,416 was sold for $5,074. All other changes in non-current account balances had a direct effect on cash flows, except the change in accumulated 3. depreciation WILDHORSE SHOES Cash Flow Statement - Indirect Method Year Ended December 31, 2021 Operating Activities $ 33394 Profit Adjustments to reconcile profit to Net Cash Provided by Operating Activities Depreciation Expense $ 6136 Loss on Disposal 5310 Increase in Accounts Payable 2242 Increase in Accounts Receivable -10030 19234 52628 Net Cash Provided by Operating Activities Investing Activities Sale of Equipment 5074 II Purchase of lovestments -8260 Net Cash Used by Investing Activities -3186 Financing Activities Dividends Paid -31152 Repayments of Notes Payable -23600 Issuance of Common Shares 17700 Repayments of Notes Payable -23600 Issuance of Common Shares 17700 Net Cash Used by Financing Activities -37052 Net Increase in Cash 12390 Cash, Jan 1 20886 Cash, Dec. 31 33276 X Your answer is incorrect. Calculate free cash flow. (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesis eg. (15,000).) Free cash flow 92866 eTextbook and Media Solution Save for Later Attempts: 4 of 5 used Submit

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