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Joyner Company's income statement for Year 2 follows: Its balance sheet amounts at the end of Years 1 and 2 are as follows: Equipment costing
Joyner Company's income statement for Year 2 follows: Its balance sheet amounts at the end of Years 1 and 2 are as follows: Equipment costing $39,000 with accumulated depreciation of $32,000 was sold during Year 2 for $16,000. The company paid a cash dividend during Year 2 but did not retire any bonds or repurchase any of its own stock. Required: For Year 2: 1. Determine the net cash provided by (used in) operating activities using the indirect method. 2. Prepare a statement of cash flows. 3. Compute the free cash flow. Complete this question by entering your answers in the tabs below. Determine the net cash provided by (used in) operating activities using the indirect method for Year 2. Prepare a statement of cash flows for Year 2. Note: Cash outflows and amounts to be deducted should be indicated with a minus sign. Complete this question by entering your answers in the tabs below. Compute the free cash flow for Year 2. Note: Negative amount should be indicated by a minus sign
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