Managerial Accounting (Statement of Cash Flows Question)

Equipment that had cost $40,000 and on which there was accumulated depreciation of $32,000 was sold during Year 2 for $17,000. 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 . Joyner Company's income statement for Year 2 follows: Its balance sheet amounts at the end of Years 1 and 2 are as follows