Chrome File Edit View History Bookmarks Profiles Tab Window Help 82% Fri Apr 8 7:54 Q DE ... SF McGraw Hill Connect X 5 Question 3 - Chapter 13 Quiz - X Course Hero X + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https253A%252F%252FIms.mheducation. h 3DO Watch Snatched (... " LindseyJones Uni.. ORS British Council IEL... S www.choosemypl... New Tab Chapter 13 Quiz i Saved Help Save & Exit Submit Joyner Company's income statement for Year 2 follows: 3 Sales $ 711, 000 Cost of goods sold 272,000 Gross margin 439,000 Selling and administrative expenses 150, 300 Net operating income 288, 700 Nonoperating items: 3.57 Gain on sale of equipment 6,000 points Income before taxes 294, 700 Income taxes 88, 410 Net income $ 206, 290 Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash $ 190, 090 $ 78, 800 Accounts receivable 225, 000 115,000 Inventory 319,000 271, 000 Prepaid expenses 8 , 000 16,000 Total current assets 742, 090 180, 800 Property, plant, and equipment 631,000 515,000 Less accumulated depreciation 165, 300 130 ,500 Net property, plant, and equipment 465, 700 384, 500 Loan to Hymans Company 48, 000 0 Total assets $ 1, 255 , 790 $ 865, 300 Liabilities and Stockholders' Equity Accounts payable $ 318,000 $ 261,000 Accrued liabilities 44,000 51,000 Income taxes payable 85 , 100 81, 300 Total current liabilities 447 , 100 393, 300 Ronde navahla 209.000 100 -000 Mc Graw HillChrome File Edit View History Bookmarks Profiles Tab Window Help 82% Fri Apr 8 7:55 Q DE ... SF McGraw Hill Connect X 5 Question 3 - Chapter 13 Quiz - X Course Hero x + HillChrome File Edit View History Bookmarks Profiles Tab Window Help 82% Fri Apr 8 7:55 Q DE ... SF McGraw Hill Connect X 5 Question 3 - Chapter 13 Quiz - X Course Hero X + Mc Graw HillChrome File Edit View History Bookmarks Profiles Tab Window Help 82% Fri Apr 8 7:55 Q DE ... SF McGraw Hill Connect X 5 Question 3 - Chapter 13 Quiz - X Course Hero x + Mc Graw HillChrome File Edit View History Bookmarks Profiles Tab Window Help M O 81% Fri Apr 8 7:58 Q DE ... SF McGraw Hill Connect X Question 3 - Chapter 13 Quiz - X Homework Help - Q&A from Or x + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.. h Watch Snatched (... " LindseyJones Uni. ORS British Council IEL... S www.choosemypl... S New Tab Chapter 13 Quiz i Saved Help Save & Exit Submit 3 Equipment that had cost $31,100 and on which there was accumulated depreciation of $10,300 was sold during Year 2 for $26,800. 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. 3.57 3. Compute the free cash flow for Year 2. points 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 Hill