Joyner Company's income statement for Year 2 follows: $ 705,000 398,000 307,000 217,000 90,000 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 6,000 96,000 28,800 $ 67,200 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year i $ 39,300 $ 70,200 253,000 137,000 319,000 284,000 8,500 17,000 619,800508, 200 622,000 502,000 165, 700 130,500 456,300 371,500 48,000 $1,124,100 $879,700 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 $ 317,000 46,000 84,000 447,000 206,000 653,000 342,000 129,100 471,100 $1,124,100 $257,000 54,000 81,700 392,700 108,000 500, 700 283,000 96,000 379,000 $879,700 Equipment that had cost $31,900 and on which there was accumulated depreciation of $10,200 was sold during Year 2 for $27,700. The company declared and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its own stock. points Skipped 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. eBook Required 1 Print 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.) References Joyner Company Statement of Cash Flows-Indirect Method (partial) Required 1 Required 2 > Equipment that had cost $31,900 and on which there was accumulated depreciation of $10,200 was sold during Year 2 for $27,700. 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. Complete this question by entering your answers in the tabs below. Required 1 Required a Required 2 Required 2 Required 3 Required 3 Compute the free cash flow for Year 2. (Negative amount should be indicated by a minus sign.) Free cash flow