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: $ 719,000 122,000 597,000 217,000 380,000 Gain on sale of equipment Income before taxes Income taxes Net income 7,000 387,000 116,100 $270,900 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year2 Year 1 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment $ 224,700 $ 39,500 148,000 287,000 10,50021,000 820,200495,500 520,000 166,800 130,000 390,000 266,000 319,000 633,000 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 1iabilities and stockholders' equity 466,200 41,000 $1,327,400 $885,500 $ 313,000 $255,000 58,000 81,500 394,500 105,000 645,000499,500 290,000 96,000 682,400386,000 $1,327,400 $885,500 43,000 85,000 441,000 204,000 348,000 334,400 Equipment that had cost $30,300 and on which there was accumulated depreciation of $11,700 was sold during Year 2 for $25,600. 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