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SUNLAND COMPANY Statement of Cash Flows Adjustments to reconcile net income to Compute free cash...

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SUNLAND COMPANY Statement of Cash Flows Adjustments to reconcile net income to Compute free cash flow. (Enter negative amount using either a negative sign preceding the number es. -45 or parentheses eg. (45).) Free Cash Flow SUNLAND COMPANY Comparative Balance Sheets December 31 \begin{tabular}{lrr} Assets & 2022 & 2021 \\ Cash & $36,900 & $20,800 \\ Accounts receivable & 32,800 & 18,100 \\ Inventory & 29,300 & 20,700 \\ Property, plant, and equipment & 59,400 & 77,700 \\ Accumulated depreciation & (29,300) & (23,500) \\ \hline \multicolumn{1}{l}{ Total } & $129,100 & $113,800 \\ \hline \end{tabular} Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock $28,400 $16,600 Retained earnings Total 7,000 8,000 26,400 33,900 18,100 14,900 49,200 40,400 $129,100 $113,800 Additional data: 1. Depreciation expense was $16,300. 2. Dividends declared and paid were $22,560. 3. During the year, equipment was sold for $7,800 cash. This equipment originally cost $18,300 and had accumulated depreciation of $10,500 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash

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