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Presented below are the financial statements of Shamrock Company. Shamrock Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 24,500 $ 14,000 9,800 Accounts receivable 14,000 Inventory 19,600 14,000 Property, plant, and equipment 42,000 54,600 Accumulated depreciation (22,400) (16,800 ) Total $77,700 $75,600 Liabilities and Stockholders' Equity Accounts payable $ 13,300 $ 10,500 Income taxes payable 4,900 5,600 Bonds payable 11,900 12,600 23,100 9,800 Common stock Retained earnings 35,000 26,600 Total $77,700 $75,600 Shamrock Company Income Statement For the Year Ended December 31, 2022 Sales revenue $169,400 Cost of goods sold 122,500 Gross profit 46,900 Selling expenses $12,600 Administrative expenses 4,200 16,800 Income from operations 30,100 Interest expense 2,100 Income before income taxes 28,000 Income tax expense 5,600 Net income $ 22,400 Additional data: 1. Depreciation expense was $12,250. 2. Dividends declared and paid were $14.000. 3. During the year equipment was sold for $5.950 cash. This equipment cost $12,600 originally and had accumulated depreciation of $6,650 at the time of sale. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. 4. All sales and purchases are on account. - Your answer is partially correct. Prepare a statement of cash flows for Shamrock Company using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Shamrock Company Statement of Cash Flows Corte Vos Cododembar 21 2022 Cash Flows from Operating Activities Cash Receipts from Customers Less : For Operating Expenses To Suppliers $ For Operating Expenses For Interest | For interest For Income Taxes C C For Income Taxes Net Cash Provided by Operating Activities Cash Flows from Investing Activities Cash Receipts from Customers Cash Flows from Investing Activities Net Increase in Cash 7 Cash at Beginning of Period Cash at End of Period Cash at End of Period e Textbook and Media X Your answer is incorrect. Compute free cash flow. (Show a negative free cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15.000).) Free cash flow $

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