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Please show your work for all questions Joyner Company's income statement for Year 2 follows: $ 711,000 57,000 654,000 217,000 437,000 Sales Cost of goods

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Joyner Company's income statement for Year 2 follows: $ 711,000 57,000 654,000 217,000 437,000 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 8,000 445,000 133,500 $ 311,500 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 $ 241,600 275,000 318,000 9,000 843,600 628,000 165,600 462,400 45,000 $1,351,000 $ 74,400 116,000 279,000 18,000 487,400 519,000 130,700 388,300 0 $875,700 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 Total stockholders' equity Total liabilities and stockholders' equity O,000 $ 317,000 43,000 85,300 445,300 196,000 641,300 337,000 372,700 709, 700 $1,351,000 $266,000 55,000 80,700 401,700 101,000 502,700 278,000 95,000 373,000 $875,700 Equipment that had cost $30,300 and on which there was accumulated depreciation of $12,000 was sold during Year 2 for $26,300. 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. 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.) Joyner Company Statement of Cash FlowsIndirect Method (partial) 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: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents Compute the free cash flow for Year 2. (Negative amount should be indicated by a minus sign.) Free cash flow

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