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Apex Company prepared the statement of cash flows for the current year that is shown below:
| Apex Company Statement of Cash FlowsIndirect Method |
| Operating activities: | | |
| Net income | | $ 41,100 |
| Adjustments to convert net income to cash basis: | | |
| Depreciation | $ 20,600 | |
| Increase in accounts receivable | (61,800) | |
| Increase in inventory | (25,300) | |
| Decrease in prepaid expenses | 9,200 | |
| Increase in accounts payable | 54,800 | |
| Decrease in accrued liabilities | (11,700) | |
| Increase in income taxes payable | 4,900 | (9,300) |
| Net cash provided by (used in) operating activities | | 31,800 |
| Investing activities: | | |
| Proceeds from the sale of equipment | 14,500 | |
| Loan to Thomas Company | (40,600) | |
| Additions to plant and equipment | (121,700) | |
| Net cash provided by (used in) investing activities | | (147,800) |
| Financing activities: | | |
| Increase in bonds payable | 88,100 | |
| Increase in common stock | 38,300 | |
| Cash dividends | (28,600) | |
| Net cash provided by (used in) financing activities | | 97,800 |
| Net decrease in cash and cash equivalents | | (18,200) |
| Beginning cash and cash equivalents | | 27,800 |
| Ending cash and cash equivalents | | $ 9,600 |
Required:
Compute Apex Companys free cash flow for the current year. (Negative amount should be indicated by a minus sign.)
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