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Joyner Company's income statement for Year 2 follows: $ 709,000 56,000 653,000 217,000 436,000 ad Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 6,000 442,000 132,600 $ 309,400 nces Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Loan to Hymans Company Total assets Liabilities and Stockholders' Equity $ 287,200 252,000. 320,000 11,000 870, 200 622,000 166,600 455,400 41,000 $1,366,600 $ 60,400 150,000 274,000 22,000 506,400 509,000 130,000 379,000 $885,400 Check my wor Year 2 Year Assets Cash and cash equivalents recounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Loan to Hymans Company Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 287,200 252.000 320,000 11,000 870,200 622,000 166.600 455,400 41.000 $1,366,600 $ 60,400 150.000 274,000 22,000 506,400 509,000 130.000 379,000 0 $885.400 $ 313,000 49,000 85,800 447,800 201,000 648, 800 344,000 373,800 717,800 $1,366,600 $259,000 52.000 80,400 391,400 114,000 505, 400 282,000 98,000 380,000 $885,400 Equipment that had cost $30.900 and on which there was accumulated depreciation of $11.900 was sold during Year 2 for $25.000 The company declared and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its own stock. Required: 1. Using the indirect method, compute the net cash provided by/used in operating activities for Year 2. 2. Prepare a statement of cash flows for Year 2 3. Compute the free cash flow for Year 2 Required 1 Required 2 Required 3 Using the indirect method, compute the net cash provided by/used in operating activities for Year 2. (List any deduction in cash outflows as negative amounts.) Joyner Company Statement of Cash Flows-Indirect Method (partial) Required 2 > Prepare a statement of cash flows for Year 2. (List any deduction in cash and cash outflows as negative amounts.) Joyner Company Statement of Cash Flows For Year 2 Operating activities: Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents Required: 1. Using the indirect method, compute the net cash provided by used in operating activities for Year 2. 2. Prepare a statement of cash flows for Year 2 3. Compute the free cash flow for Year 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the free cash flow for Year 2. (Negative amount should be indicated by a minus sign.) Free cash flow

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