15-10 (Algo) Prepare a Statement of Cash Flows, Free Cash Flow [LO15-1, 1015-2, L015-31 Jayner Company's Income statement for Year 2 follows Sales Cost of goods sold Gross marg Selling and administrative expenses Net operating incom sonperating Ite Cain on sale of equipm Income before $700,000 45,000 657,000 150,480 10,000 516,500 Income taxes Not incons Its balance sheet amounts at the end of Years 1 and 2 are as follows: Assets Cash Accounts receivable ventory Prepaid expenses Total current assets Property, plant, and equipment Lass accumulated depreciation Het property, plant, and agjent Lean to Hymans Company Total assets Liabilities and Stockholders Equity Accounts payable Accrued abilities Income taxes payatila Total current 11 Bonds payable Total liabilities Cock Retained earnings Total stockholders equity Total liabilities and stockholders alty $336,620 210,000 318.00 YOUR $44,300 134,000 8,500 17,00 404,100 623,800 515,000 16,5 111,700 456,500 383,300 44,000 $1,303,620 $57,488 $315,000 41,000 $250,000 53,000 0,400 441,400 1,400 192,000 305,000 406,400 334,000 373,000 436,120 18.000 3/1,000 $1,31,00 $367,480 Equipment that had cost $31,500 and an which there was accumulated depreciation of $11,500 was sold during Year 2 for $30,000. The company declared and paid a cash dividend during Year 2. It did not retire any bands or repurchase any of the own stack Required: 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. Ricuind Required 2 Using the indirect method, compute the net cash provided by used in operating activities for year 2. (Lid by centumin cash outfious as negative amounts Joyner Company sment of Cash Flows Indirect Metro (partial) Required 2 >> 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a statement of cash flows for Year 2. (List any deduction in cash and cash outflows as negative amounts.) Oparating activities Joyner Company statement of Cash Flows For Year 2 Investing activities Financing activites Beginning cash and cash aquivalents Ending cash and cash aquivalents Equipment that had cost $31,500 and on which there was accumulated depreciation of $11,500 was sold during Year 2 for $30,000. 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 Complete this question by entering your answers in the tabs below. Required 1 Required 3 Compute the free cash flow for Year 2. (Negative amount should be indicated by a minus sign.) Free cash Tow Problem 15-10 (Algo) Prepare a Statement of Cash Flows; Free Cash Flow [LO15-1, LO15-2, LO15-3] Joyner Company's Income statement for Year 2 follows: 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 $ 702,000 45,000 657,000 150,400 506,600 10,000 516,600 154,980 $ 361,620 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Assets Cash 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 Accounts payable Accrued 11abilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity: Year 2 Year 1 $336,620 230,000 318,000 $ 44,100 134,000 289,000 8,500 17,000 893,120 484,100 623,000 515,000 166,500 131,700 456,500 383,300 44,000 $ 1,393,620 $ 867,400 $315,000 41,000 $258,000 53,000 85,400 80,400 441,400 391,400 192,000 105,000 633,400 496,400 334,000 273,000 426,220 98,000 760,220 371,000 $ 1,393,620. $ 867,400 Equipment that had cost $31,500 and on which there was accumulated depreciation of $11,500 was sold during Year 2 for $30,000. 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. Complete this question by entering your answers in the tabs below. 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 deducti cash outflows as negative amounts.) Joyner Company Statement of Cash Flows-Indirect Method (partial) 0 $ 0 Required 2 > 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 Prepare a statement of cash flows for Year 2. (List any deduction in cash and cash outflows as negative amounts.) Operating activities: Joyner Company Statement of Cash Flows For Year 2 Investing activities Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents 0 0 $ < Required 1 Required 3> 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. Requined 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