Joyner Company's income statement for Year 2 follows: $ 705,000 166,000 539,000 151,600 387,400 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 8,000 395,400 158, 160 $ 237, 240 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 $ 217,840 230,000 318,000 9,500 775, 340 638,000 $ 92,900 126,000 282,000 19,000 519,900 510,000 131,500 378,500 0 $ 898,400 166,800 471,200 46,000 $1,292,540 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 $ 316,000 45,000 85,300 446,300 204,000 650, 300 344,000 298, 240 642, 240 $1,292,540 $ 269,000 55,000 80, 400 404,400 119,000 523,400 280,000 95,000 375,000 $898,400 Equipment that had cost $30,100 and on which there was accumulated depreciation of $11,700 was sold during Year 2 for $26,400. The company declared and paid a cash dividend durina Year 2. It did not retire any bonds or repurchase any of its own stock. Equipment that had cost $30,100 and on which there was accumulated depreciation of $11,700 was sold during Year 2 for $26,400. The company declared and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its own stock. 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 FlowsIndirect Method (partial) 0 $ 0 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: 0 Financing activities: 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0 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