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 $ 711,000 112,000 599,000 151,200 447,800 6,000 453,800 181,520 $ 272, 280 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 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 Starkholders' Faust $ 205, 380 272,000 319,000 9,000 805, 380 630,000 166,100 463,900 42,000 $1,311,280 $ 64,400 148,000 272,000 18,000 502,400 513,000 130,500 382,500 $884,900 Year 2 Year 1 $ 205,380 272,000 319,000 9,000 805, 280 630,000 166,100 463,900 42,800 $1,211,280 $ 64,400 148,000 272,000 18,000 502,400 513,000 130,500 382,500 0 $ 884,900 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 Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $315.000 45,000 85,500 445,500 190,000 641,500 336,000 333,730 660,280 $1,211,280 $ 257.000 59,000 81000 397,900 119.000 516,900 273,000 95,000 363.000 $884,900 Equipment that had cost $31,800 and on which there was accumulated depreciation of $10,100 was sold during Year 2 for $27700 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) 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 For Year 2 Operating activities Investing activities 0 Financing activities 0 0 Joyner Company Statement of Cash Flows For Year 2 Operating activities Investing activities: 0 Financing activities: 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0 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 Compute the free cash flow for Year 2..(Negative amount should be indicated by a minus sign............ Free cash flow