Joyner Company's income 3 Sales Cost of goods sold Gross margin Selling and administrative Net operating income Nonoperating items: Gain on sale of equipme Income before taxes Income taxes Net income 69,000 649,000 150,800 498,200 10,000 508,200 152,460 $ 355,740 - Its balance the end of Years 1 and 2 are as follows: Assets Year 2 Year 1 $ 342,840 $ 73.400 224,000 144,000 318.000 270,000 9,500 19,000 894, 340 506,400 637,000 515,000 155.500 130,600 471,500384,400 40,000 0 $1,405,840 $890,800 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 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 $ 317,000 45,000 84,300 446,300 198,000 644,300 346,000 415,540 761,540 $1,405,840 $262.000 51.000 81,800 394,800 115,000 509,800 287,000 94,000 381,000 $890,800 Equipment that had cost $30,400 and on which there was accumulated depreciation of $11,500 was sold during Year 2 for $28.900. 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. 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 deduction in cash outflows as negative amounts.) Joyner Company Statement of Cash Flows-Indirect Method (partial) Required 2 > 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.) 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 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