Rojas Corporation’s comparative balance sheets are presented below. ROJAS CORPORATION
Comparative Balance Sheets
December 31

2017

2016

Cash
$ 14,600

$ 10,600

Accounts receivable
21,600

23,400

Land
20,400

26,000

Buildings
70,100

70,100

Accumulated depreciation—buildings
(15,000

)

(10,500

)

Total
$111,700

$119,600

Accounts payable
$ 12,700

$ 28,300

Common stock
75,200

71,200

Retained earnings
23,800

20,100

Total
$111,700

$119,600

Additional information:
1. Net income was $22,500. Dividends declared and paid were $18,800.
2. No noncash investing and financing activities occurred during 2017.
3. The land was sold for cash of $4,500.
Rojas Corporation’s comparative balance sheets are

Rojas Corporation’s comparative balance sheets are

(a) Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a - sign e. g. -15,000, or in parenthesis e. g. (15,000).)

Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e. g. -45 or parentheses e. g. (45).)