Joyner Company's income statement for Year 2 follows: Sales Cost of goods sold Gross margin Selling and administrative expenses 705,000 421,000 217,000 204,000 . Net operating income Nonoperating items: Gain on sale of equipment Incone before taxes Incone taxes Net income 64,200 $149,800 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 60,200 59,100 278,000 141,000 320,000286,000 10,500 21.000 507,100 500,000 165, 800130800 468,200 6 200 634,000 Less accumulated depreciation Net property, plant, and equipment Loan to Hymans Company Total assets 48,000 $1,184,900 $876,300 Liabilities and stockholders Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total 1iabilities Common stock Retained earnings Total stockholders equity Total liabilities and stockholders' equity s 311,000 $254,000 58,000 48.000 93,300 101,000 94,300 330,000285,000 97,000 5,200 382,000 $1,184,900 $876,300 195,000 215,200 Equipment that had cost $31,500 and on which there was accumulated depreciation of $11,500 was sold during Year 2 for $30,000 ed and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its own stock. Total liabilities and stockholders' equity $1,184,900 $876,300 Equipment that had cost $31,500 and on which there was accumulated depreciation of $11,500 was sold during Year 2 for $30.000 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 outfilows as negative amounts.) Weaver Company Statement of Cash Flows-Indirect Method (part ial) Complete this question by entering your answers in the tabs below. 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: es Financing activities Beginning cash and cash equivalents Ending cash and cash equivalents Required 3 Required 1 4 Exercises/Problems Saved Income taxes payable Total current liabilities Bonds payable Total iiabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 85,700 444,700 195,000 81,300 393,300 101,000 639,700494,300 330,000 285,000 215,20097,000 545,200382,000 $1,184,900 $876,300 Equipment that had cost $31.500 and on which there was accumulated depreciation of $11.500 was sold during Ye The company declared and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its Required: 2. Prepare a statement of cash flows for Year 2 1. Using the indirect method, compute the net cash provided by/used in operating activities 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.) ree cash flow Required 2 Required 3