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Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31. 2010 2009 Cash $157,000 $ 78,000 Accounts receivable 180,000 185,000 Investments 52,000 74,000 Equipment 298,000 240,000 Less: Accumulated depreciation (106,000) (89,000) Current liabilities 134,000 151,000 Capital stock 160,000 160,000 Retained earnings 287,000 177,000 Additional information: Investments were sold at a loss (not extraordinary) of $7,000; no equipment was sold; cash dividends paid were $50,000; and net income was $160,000. Instructions (a) Prepare a statement of cash flows for 2010 for Sondergaard Corporation.
(b) Determine Sondergaard Corporation's free cash flow.
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