Exercise 13-7 (Part Level Submission) Rojas Corporation’s comparative balance sheets are presented below.

Exercise 13-7 (Part Level Submission)

Rojas Corporation’s comparative balance sheets are presented below.

ROJAS CORPORATION Comparative Balance Sheets December 31
	2017		2016
Cash	$14,900		$10,800
Accounts receivable	21,700		23,200
Land	20,000		26,200
Buildings	70,300		70,300
Accumulated depreciation—buildings	(15,100	)	(10,500	)
Total	$111,800		$120,000

Accounts payable	$12,700		$27,900
Common stock	74,600		73,800
Retained earnings	24,500		18,300
Total	$111,800		$120,000

Additional information:

1.		Net income was $23,100. Dividends declared and paid were $16,900.
2.		No noncash investing and financing activities occurred during 2017
3.		The land was sold for cash of $4,600.

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.

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Exercise 13-7 (Part Level Submission) Rojas Corporation’s comparative balance sheets are presented below.

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