Joyner Company's income statement for Year 2 follows: $ 700,000 276,000 424,000 151,300 272,700 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 8,000 280, 700 112,280 $ 168, 420 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 $ 148,920 225,000 320,000 10,500 704,420 632,000 166,400 465,600 43,000 $1,213,020 $ 89,500 127,000 270,000 21,000 507,500 508,000 130, 500 377,500 0 $885,000 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 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 314,000 43,000 84,600 441,600 203,000 644,600 342,000 226,420 568, 420 $1,213,020 $269,000 55,000 82,000 406,000 114,000 520,000 273,000 92,000 365,000 $885,000 Equipment that had cost $30,700 and on which there was accumulated depreciation of $10,800 was sold during Year 2 for $27,900. The company declared and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its own stock. 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) 0 $ 0