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Chapter 13 Problems Bewed He 2 Joyner Company's income statement for Year 2 follows: 10 points $700,000 346,000 354,000 217,000 137,000 Stopped Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income 10,000 147,080 44,100 $ 182,900 eBook Its balance sheet amounts at the end of Years 1 and 2 are as follows: References Year 2 Year 1 $ 48,000 263,000 319.000 8.000 638,000 630,000 165,900 464, 100 42.000 $1,144,180 $ 24,580 147,600 279,000 16, cee 466,500 516,000 131, 102 384,900 $851,400 Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment 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 $ 315.000 41.00 85,600 441.600 205,000 647.600 339.000 157, 589 $256,000 51,000 80.480 387,400 101.600 486, 480 274,000 89,000 Next > Me Grow HU MacBook Pro Hello 2 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. 10 points Complete this question by entering your answers in the tabs below. Skloped Required 1 Required 2 Required 3 Book Using the indirect method, compute the net cash provided by/used in operating activities for Year 2. (List any deduction in cash outflows as negative amounts.) References Joyner Company Statement of Cash Flows-Indirect Method (partial) 50 Required 2 > Mc Graw Hall Chapter 13 Problems Help Save & Eat Ched 2 puu Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 647,600 339,000 157.500 495,500 $1,144,100 488,400 274,000 89,00 363.000 $851,400 10 points Skipped Equipment that had cost $31,500 and on which there was accumulated depreciation of $10,900 was sold during Year 2 for $30.600. 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 Your 2. 2. Prepare a statement of cash flows for Year 2 3. Compute the free cash flow for Year 2 Hook Hoferences Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Compute the free cash flow for Year 2. (Negative amount should be indicated by a minus sign) Free cash flow MC Graw HINI Dre Chapter 13 Problems i Helo Save Chec 2 Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 642.600 339,800 157.500 496,500 $1,144,100 AD 488,400 274,000 89,00 363,000 $851,400 10 points Skipped Equipment that had cost $31,500 and on which there was accumulated depreciation of $10,900 was sold during Year 2 for $30,600 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 Your 2. 2. Prepare a statement of cash flows for Year 2 3. Compute the free cash flow for Year 2 look References 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) Free cash flow (Mc Graw HINI Bedre
