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 $ 706,000 376,000 330,000 151,300 178,700 10,000 188,700 75,480 $ 113,220 Its balance sheet amounts at the end of Years 1 and 2 are as follows: 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 CGACS Total current liabilities. Bonds payable Total liabilities. Common stock Retained earnings. Total stockholders' equity Total liabilities and stockholders' equity Year 2 $ 89,220 223,000 319,000 8,500 639, 720 639,000 165,900 473, 100 46,000 $ 1,158,820 $ 315,000 43,000 84,500 442,500 205,000 45-500 647,500 339,000 172,320 511,320 $ 1,158,820 Year 1 $ 60,100 134,000. 276,000 17,000 487,100 516,000 130, 900 385,100 $ 872,200 $ 260,000 56,000 80, 200 396, 200 107,000 503, 200 278,000 91,000 369,000 $ 872,200 Equipment that had cost $30,900 and on which there was accumulated depreciation of $10,600 was sold during Year 2 for $30,300. 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. 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 > 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 Compute the free cash flow for Year 2. (Negative amount should be indicated by a minus sign.) Free cash flow < Required 2 Required 3 >