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 $ 713, eee 257 , . 456,000 216,000 240, eee 7.880 247,800 74,100 $ 172,900 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Not want olant and annment $ 111,600 279, 280 318,000 8,500 717,100 622,000 165,600 456 GAA $ 64,900 128 , 281,000 17 , 499,900 510,000 130,3ee 270 TAA Check my world 103,00 456,40e 42,900 $1,215, see 10.30 379,700 e $ 870,600 Less accumulate beprecac20 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 $ 311,000 40,000 85,300 436,300 204,000 640,300 344, eee 231, 2ee $75,200 $1,215, See $ 251,000 58,000 00, Gee 389,600 102,000 491,600 289,000 90,000 379,eee $ 870,600 Equipment that had cost $31.300 and on which there was accumulated depreciation of $11,700 was sold during Year 2 for $26,600 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 Statement of Cash Flows For Year 2 Operating activities: Net cash provided by operating activities Investing activities: Proceeds from sale of equipment Loan to Hymans Company Additions to property, plant, and equipment Net cash used in investing activities Financing activities: issuance of bonds payable Issuance of common stock Cash dividends paid 0 Net cash provided by financing activities Net increase in cash and cash equivalents Beginning cash and cash equivalents Ending cash and cash equivalents $ 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