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, aee 261,689 450,000 217,000 233,000 6,000 239, 280 95,689 $ 143,400 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 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 $ 88,000 276,000 319, le 200 693,200 629,000 165,000 464,800 42,889 $1,199,000 $39, 100 133,000 281,000 20, 473,100 519,000 131,500 387,500 $860,600 $ 315,000 40,000 84,500 439,500 9,580 205,000 644,500 350.00 204,500 554,520 $1,199,000 5 252,000 51.000 81,600 384,609 103.000 487,600 281,000 92,000 373,200 $360,600 Equipment that had cost $31,200 and on which there was accumulated depreciation of $1,500 was sold during Year 2 for $25.700. 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 quipment that had cost $31.200 and on which there was accumulated depreciation of $11,500 was sold during Year 2 for $25,700. he company declared and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its own stock equired: Using the indirect method, compute the net cash provided by used in operating activities for Year 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.) Weaver Company Statement of Cash Flows-Indirect Method (partial) Net Income Adjustments to convert net income to a cash basis Depreciation Increase in accounts receivable Decrease in inventory Decrease in prepaid expenses Decrease in accounts payable Decrease in accrued liabilities Increase in income ces payable Gain on sale of equipment het cash provided by operating activit Required 2 > Seved 276,689 319,089 19, 693,000 629,800 165,000 464,000 133,888 281,000 20,899 473,100 519,689 131.589 387, 589 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 42.000 $1,199,000 $868,600 $ 315,000 40,000 84,589 439.589 205,00 644,500 350,000 204,500 554,500 $1,199,000 $ 252,000 51,080 81,600 384,600 103,600 487,600 281.000 92.099 373,000 $860,600 Equipment that had cost $31,200 and on which there was accumulated depreciation of $11,500 was sold during Year 2 for $25,700 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 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 Bay