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 $ 711,000 276,000 435,000 150,700 284,300 10,000 294,300 117,720 $ 176,580 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Assets Cash Accounts receivable Inventory Year 2 Year 1 $ 145,880 226,000 319,000 $ 85,400 117,000 279,000 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 10,000 20,000 700,880 501,400 633,000 504,000 165,300 130,500 467,700 373,500 49,000 $ 1,217,580 $ 314,000 40,000 $ 874,900 $ 259,000 Income taxes payable Total current liabilities Bonds payable Common stock Total liabilities Retained earnings Total stockholders' equity 52,000 84,700 80,900 438,700 391,900 190,000 116,000 628,700 507,900 349,000 272,000 239,880 95,000 588,880 367,000 $ 1,217,580 $ 874,900 Total liabilities and stockholders' equity Equipment that had cost $30,300 and on which there was accumulated depreciation of $10,600 was sold during Year 2 for $29,700. 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