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Balance Sheets as of December 31, 2021 and 2022 ...

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Accounting

Balance Sheets as of December 31, 2021 and 2022

2021 2022

Accounts Payable $ 361 $ 444

Short-term Notes Payable 315 270

Long-term Deferred Taxes 318 412

Long-term Debt 2,869 2,956

Common Stock 456 610

Retained Earnings 4,591 4,741

Total Liabilities & Equity $8,910 $9,433

2021 2022

Cash $ 141 $ 184

Marketable securities 56 32

Accounts receivable 1,025 1,167

Inventory 918 963

Net Fixed Assets 6,770 7,087

Total Assets $8,910 9,433

Luna Lighting Company

2022 Income Statement

Sales $3,990

Less: Cost of Goods Sold 2,137

Less: Depreciation 1,018

Earnings Before Interest and Taxes 835

Less: Interest Paid 267

Earnings Before Taxes 568

Taxes (34%) 193

Net Income $ 375

Considering the left-hand side of the cash flow identity (cash flows from assets associated with investment activities), determine Luna Lighting Companys free cash flow (FCF) for the year 2022.

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