Southern Manufacturing Inc.’s financial statements are as follows: Southern Manufacturing Balance Sheets For 12/31/2012 & 12/31/13 Southern Manufacturing Income statement For the period ended 12/31/2013 ($000) ($000) ASSETS 12/31/12 12/31/13 Cash $ 500 $ 200 Sales $ 22,560 Acc. Rec. $ 6,250 $ 7,300 COGS $ 11,506 Inventory $ 5,180 $ 6,470 Gross margin $ 11,054 CURRENT ASSETS $ 11,930 $ 13,970 Expense $ 5,332 Depreciation $ 700 Fixed assets EBIT $ 5,022 gross $ 7,500 $ 9,000 Interest $ 1,180 Accumulated Dep. $ (2,400) $ (3,100) EBT $ 3,842 Net $ 5,100 $ 5,900 Tax $ 1,537 Net Income $ 2,305 TOTAL ASSETS $ 17,030 $ 19,870 LIABILITIES Acct. Payable $ 1,860 $ 2,210 Accruals $ 850 $ 220 CURRENT LIABILITIES $ 2,710 $ 2,430 Long-term debt $ 11,320 $ 12,335 Equity $ 3,000 $ 5,105 TOTAL CAPITAL $ 14,320 $ 17,440 TOTAL LIABILITIES AND EQUITY $ 17,030 $ 19,870 (15 pts) Calculate free cash flows from operations.