P$3\mathrm{.}2$ Cash Flow Statement and Free Cash Flow Schedule$$Jake and Phil Company: We provide financial statement forecasts for the Jake and Phil Company in Exhibit P$3\mathrm{.}2($comparative balance sheets, an income statement, and statement of retained carings$).$ During Year $3,$ the company sold property, plant, and equipment with an acquisition cost of $$5\mathrm{.}000.$ Its income tax rate is $40\%.$ The company needs an increase in cash of $$1,000$ to operate next ycar. Prepare a Statement of Cash Flows, a Free Cash Flow Schedule using the Earnings Before Interest and Taxes method and a Free Cash Flow Schedule using the Cash Flow from Operations method for Year $3.$