Joyner Company's income statement for Year 2 follows: $ 703,000 392,000 311,000 150,900 160,100 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 6,000 166,100 49,830 $ 116,270 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 $ 90,070 224,000 318,000 9,500 641,570 622,000 165,900 456,100 48,000 $1,145,670 $ 28,300 145,000 283,000 19,000 475,300 518,000 130,200 387,800 0 $ 863,100 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 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 84,300 441,300 193,000 634,300 339,000 172,370 511, 370 $1,145,670 $ 251,000 52,000 80,100 383,100 105,000 488,100 284,000 91,000 375,000 $ 863, 100 Equipment that had cost $31,100 and on which there was accumulated depreciation of $11,500 was sold during Year 2 for $25,600. 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 Required 2 Required 3 Using the indirect method, compute the net cash provided by/used in operating cash outflows as negative amounts.) Joyner Company Statement of Cash Flows-Indirect Method (partial) Prepare a statement of casn Tiows for rear 2. (List any deduction in casn ana casn 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