Document - Word Insert File A Home X Cut LU Copy Design Layout References Mailings Review View Help Times New Ro 10 A A A A E DE 2017 BTW *, * A.D.A. EEEE. . Font Paste 3 Format Painter Clipboard Paragraph Joyner Company's income statement for Year 2 follows: Sales 5900,000 Coat of goods sold 500,000 Gross margin HOO,000 Selling and administrative expenses 320,000 Net operating income 172,000 Nonoperating items: Gain on sale of equipment 8,000 Income before taxes 80,000 Income taxes 124,000 56,000 Its balance sheet amounts at the end of Years 1 and 2 are as follows 1 0 Assets Cash and cash equivalents 4,000 15 21,000 Accounts receivable 1250,000 170,000 Inventory 11310,000 1260,000 Prepaid expenses 17,000 14,000 Total current assets 1571,000 465,000 Property, plant, and equipment T510,000 11400,000 Leas accumulated depreciation | 132,000 120,000 Net property, plant, and equipment 11378,000 1 280,000 Loan to Hymans Company || 40,000 Total assets 989,000 sh 45,000 Liabilities and Stockholders' Equity Accounts payable $310,000 $250,000 Accrued liabilities 20,000 11:30,000 Income taxes payable 45,000 1 42,000 Total current liabilities 1375,000 1 322,000 Bonds payable 190,000 | 70,000 Total liabilities 565,000 1392,000 Common stock 300,000 270,000 Retained earnings 124,000 183,000 Total stockholders' equity 424,000 353,000 Total liabilities and stockholders' equity8989,000 $745,000 257 words09 Document) - Ward Insert Design Layout References Mailings View Design Layout e Tell me what you want to do Tes New Ro 10 BTU AAAA * A.2.A. E - Aanbox Abcd AaBbct Alba AaB Ace E .Comba 56.000 Its balance sheet amounts at the end of Years 1 and 2 are as follows Comh and cash e yalen TING,00 1970.000 .000 Current areta Property plant and equipment Baumited depreciation Net property, plant, and it Loan to Hyun Company Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total EE L IC 989,000 45.000 Total Stockholders equi Equipment that had cost $40,000 and on which there was accumulated depreciation of $30,000 was sold during Year 2 for $18,000. 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 not 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 25 wodi 2 PLE190lwm