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: $713,000 308,000 405, 000 217,000 188,000 Gain on sale of equipment Income before taxes Income taxes 10,000 198,000 79,200 $118,800 Net income ts balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year l Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment $57,900 69,100 145,000 283,000 18,000 650,900515,100 512,000 166, 300 130,600 3 700381,400 265,000 319,000 9,000 640,000 Less accumulated depreciation Net property, plant, and equipment Loan to Hymans Company Total assets 48,000 $1,172,600 $896,500 Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock $ 314,000 $262,000 50,000 81,500 393,500 116,000 49,000 85,200 448,200 205,000 653,200 59300 509,500 290.000 116.000 653,200 509,500 290,000 181,400 97,000 519,4008 700U $1,172,600 $896,500 205,000 Bonds payable Total liabilities Common stock Retained earnings Total stockholders equity 338,000 Total liabilities and stockholders equity Equipment that had cost $31,900 and on which there was accumulated depreciation of $10,900 was sold during Year 2 for $31,000 The company declared and paid a cash dividend during Year 2. It did not retire any bonds or repurchase any of its own stock. Requirec 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 Year2 3. Compute the free cash flow for Year 2 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: t cash provided by operating activities Investing activities: Proceeds from sale of equipment Additions to property, plant, and equipment Loan to Hymans Company Financing activities: Issuance of bonds payable issuance of common stock Cash dividends paid Beginning cash and cash equivalents Ending cash and cash equivalents Required1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2Required 3 Compute the free cash flow for Year 2. (Negative amount should be indicated by a minus sign.) ree cash flow K Required 2 Required 3