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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 that
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 that had cost $30,500 and on which there was accumulated depreciation of $10,200 was sold during Year 2 for $30,300. The company declared and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its own stock. 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.) Prepare a statement of cash flows for Year 2. (List any deduction in cash and cash outflows as negative amounts.) Compute the free cash flow for Year 2. (Negative amount should be indicated by a minus sign.)
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