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Joyner Company's income statement for Year 2 follows:

Sales $ 702,000

Cost of goods sold $ 368,000

Gross margin 334,000

Selling and administrative expenses 217,000

Net operating income 117,000

Gain on sale of equipment 6,000

Income before taxes 123,000

Income taxes 36,900

Net income $ 86,100

Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1

Assets

Cash $ 37,400 $ 44,500

Accounts receivable 256,000 145,000

Inventory 318,000 287,000

Prepaid expenses 10,500 21,000

Total current assets 621,900 497,500

Property, plant, and equipment 621,000 510,000

Less accumulated depreciation 165,000 131,600

Net property, plant, and equipment 456,000 378,400

Loan to Hymans Company 46,000 0

Total assets $ 1,123,900 $ 875,900

Liabilities and Stockholders' Equity

Accounts payable $ 318,000 $ 252,000

Accrued liabilities 42,000 57,000

Income taxes payable 84,600 81,900

Total current liabilities 444,600 390,900

Bonds payable 198,000 105,000

Total liabilities 642,600 495,900

Common stock 339,000 289,000

Retained earnings 142,300 91,000

Total stockholders' equity 481,300 380,000

Total liabilities and stockholders' equity $ 1,123,900 $ 875,900

Equipment that had cost $30,300 and on which there was accumulated depreciation of $10,900 was sold during Year 2 for $25,400. The company declared and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its own stock.

1.The net cash for operating activities for Year 2

2.The Statement of cash flows for Year 2 in table.

3.The free cash flow for Year 2.