Joyner Companys income statement for Year 2 follows:

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.

Its balance sheet amounts at the end of Years 1 and 2 are as follows: Equipment costing $40,000 with accumulated depreciation of $31,000 was sold during Year 2 for $17,000. The company paid a cash dividend during Year 2 but did not retire any bonds or repurchase any of its own stock. Determine the net cash provided by (used in) operating activities using the indirect metho Note: Cash outflows and amounts to be deducted should be indicated with a minus sign. Prepare a statement of cash flows for Year 2. Compute the free cash flow for Year 2. Note: Negative amount should be indicated by a minus sign