Joyner Company's income statement for Year 2 follows: $711,000 172, 00G 539,000 216,000 323, 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, 000 329, 000 131,600 $197, 400 Its balance sheet amounts at the end of Years 1 and 2 are as follows 2 Year 1 Year Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment $ 132, 400 271,000 320, 000 8, 000 731, 400 636, 000 165, 200 470, 800 91,000 131, 000 280, 000 16,000 518, 000 512,000 130,900 381, 100 Less accumulated depreciation Net property, plant, and equipment Loan to Hymans Company 40, 000 Total assets S1,242, 200 $899, 100 Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current 1iabilities Bonds payable Total liabilities Common stock S 315,000 $265, 000 42,000 84, 3 441, 300 197, 638, 30 342, 000 261, 9 54, 000 399, 100 114, 000 513, 100 287,000 99,000 386,000 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity ,:00 $1, 242, 2 $899, 100 Equipment that had cost $30,300 and on which there was accumulated depreciation of $11,700 was sold during Year 2 for $24,600 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