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Joyner Company's income statement for Year 2 follows: $ 781, 088 12e, eoe 581,000 217, 008 364,988 Sales Cost of goods sold Gross margin Selling
Joyner Company's income statement for Year 2 follows: $ 781, 088 12e, eoe 581,000 217, 008 364,988 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 5,000 369.000 147, 600 S 221. 400 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 182, 400 266,990 320,000 9,500 777, 9ee 623, e88 166, 480 456,688 47, 080 $1,281,500 $184,900 112, e90 276,888 19,880 511, 809 588, eee 131, 100 376,989 $887, 9ee 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 50,000 84,000 450,000 299,000 659, 000 340, oee 282,500 622,500 $1,281,500 $262, eee 57, 80e 81,900 40e, 90e 11e, Bee 510, 9ee 284,800 93.960 377. see $887, 900 Equipment that had cost $31,000 and on which there was accumulated depreciation of $10,300 was sold during Year 2 for $25,700. The company declared and paid a cash dividend during Year 2 It did not retire any bonds or repurchase any of its own stock. 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 cash outflows as negative amounts.) Joyner Company Statement of Cash FlowsIndirect Method (partial) Required 2 > Required 1 Required 2 Required 3 Prepare a statement of cash flows for Year 2. (List any deduction in cash and cash outt 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 Required 1 Required 3 > Required: 1. Using the indirect method, compute the net cash provided by/used in operating activit 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 Compute the free cash flow for Year 2. (Negative amount should be indicated by a minus sig Free cash flow
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