Joyner Companys income statement for Year 2 follows:

Sales	$	719,000
Cost of goods sold		285,000
Gross margin		434,000
Selling and administrative expenses		216,000
Net operating income		218,000
Gain on sale of equipment		7,000
Income before taxes		225,000
Income taxes		67,500
Net income	$	157,500

Its balance sheet amounts at the end of Years 1 and 2 are as follows:

	Year 2		Year 1
Assets
Cash	$	119,800	$	102,200
Accounts receivable		255,000		114,000
Inventory		319,000		275,000
Prepaid expenses		10,000		20,000
Total current assets		703,800		511,200
Property, plant, and equipment		630,000		501,000
Less accumulated depreciation		165,700		130,600
Net property, plant, and equipment		464,300		370,400
Loan to Hymans Company		45,000		0
Total assets	$	1,213,100	$	881,600
Liabilities and Stockholders' Equity
Accounts payable	$	319,000	$	266,000
Accrued liabilities		46,000		58,000
Income taxes payable		84,500		81,600
Total current liabilities		449,500		405,600
Bonds payable		205,000		103,000
Total liabilities		654,500		508,600
Common stock		335,000		275,000
Retained earnings		223,600		98,000
Total stockholders' equity		558,600		373,000
Total liabilities and stockholders' equity	$	1,213,100	$	881,600

Equipment that had cost $31,300 and on which there was accumulated depreciation of $11,200 was sold during Year 2 for $27,100. 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 for operating activites for Year 2(Negative amount should be indicated by a minus sign.) 2. 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 - Indirect Method For Year 2 Operating activities: Investing activities Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents 3. Compute the free cash flow for Year 2. (Negative amount should be indicated by a minus sign.)