You are given a choice of taking the simple interest on 100,000 invested for 2 years

Prepare a Statement of Cash Flows (Indirect Method); Free Cash Flow [LO2, LO3, LO4]
Balance sheet accounts for Joyner Company contained the following amounts at the end of Years 1 and 2

The
company’s income statement for Year 2 follows: Equipment that had cost $40,000
and on which there was accumulated depreciation of $30,000 was sold during Year
2 for $18,000. Cash dividends totaling $15,000 were declared and paid during
Year 2. Sales . . . . . . . . . . . . . . . . . . . $900,000 Cost of goods sold
. . . . . . . . . 500,000 Gross margin . . . . . . . . . . . . . 400,000 Selling
and administrative expenses . . . . . . . . . . . . . . 328,000 Net operating
income . . . . . . . 72,000 Gain on sale of equipment . . . 8,000 Income before
taxes . . . . . . . . 80,000 Income taxes . . . . . . . . . . . . . 24,000 Net
income . . . . . . . . . . . . . . . $ 56,000 Required: 1. Using the indirect
method, compute the net cash provided by operating activities for Year 2. 2.
Prepare a statement of cash flows for Year 2. 3. Compute the free cash f ow for
Year 2. 4. Briefly explain why cash declined so sharply during the
year

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