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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 $31,300 and on which there was accumulated depreciation of $10,500 was sold during Year 2 for $26,800. 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
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