Joyner Company's income statement for Year 2 follows: points $ 709.ee 129,00 589.990 218,eee 362.080 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 eBook 9.989 371, eee 111, 380 259,700 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 $ 284,689 267.ee 320,000 799,680 620, 880 165,680 454.480 48.989 $1.382.eee $89.999 133,00 278,888 16,080 516,080 502,80 131,580 379,500 8 86,500 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 $ 310,000 46, eee 84,480 440,480 206 ARA 646, 480 332.ee 323,680 655,680 $1,302,980 $255,000 52,880 81.500 388,500 116.888 504,500 288.989 94,820 382,880 $886,580 Equipment that had cost $31,800 and on which there was accumulated depreciation of $10.900 was sold during Year 2 for $29.900. 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 Total liabilities and stockholders' equity $1,302, $886,580 eBook Equipment that had cost $31.800 and on which there was accumulated depreciation of $10.900 was sold during Year 2 for $29.900. 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 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 Year 2. (List any deduction in cash outflows as negative amounts.) Joyner Company Statement of Cash Flows-Indirect Method (partial) Required 1 Required 2 > eBook Equipment that had cost $31,800 and on which there was accumulated depreciation of $10.900 was sold during Year 2 for $29.900. The company declared and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its own stock Print 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a statement of cash flows for Year 2. (List any deduction in cash and cash outflows as negative amounts.) 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 > I USIIy le lllllllllluu, LUNDUleie lei COSI PIUVIUCU UyUSCUT UVEISLY OLLIVILICS IUI Col 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 sign.) Free cash flow
