Question: 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

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 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income

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 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: 715,000 398,000 317,000 217,000 100,000 Gain on sale of equipment Income before taxes Income taxes Net income 8,000 108,000 32,400 $ 75,600

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