Joyner Company's income statement for Year 2 follows: 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 $ 704,000 296,000 408,000 217,000 191,000 6,000 197,000 59,100 $ 137,900 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Assets Cash and cash equivalents 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 Year 2 Year 1 319,000 9,000 $ 79,500 267,000 $ 78,300 141,000 288,000 18,000 674,500 525,300 637,000 509,000 165,100 131,600 471,900 377,400 49,000 $1,195,400 $902,700 $ 318,000 $259,000 47,000 57,000 85,900 80,700 450,900 396,700 208,000 118,000 658,900 514,700 331,000 289,000 205,500 99,000 536,500 388,000 $1,195,400 $902,700 Equipment that had cost $30,900 and on which there was accumulated depreciation of $10,000 was sold during Year 2 for $26,900. 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) 0 $ 0 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 Operating activities: Investing activities: Financing activities: For Year 2 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0 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 < Required 2 Required 3 >