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  3. problem 1410 prepare a statement of cash flows free cash...

Question: problem 1410 prepare a statement of cash flows free cash...

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Problem 14-10 Prepare a Statement of Cash Flows; Free Cash Flow [LO14-1, L014-2 Joyner Companys income statement for Year 2 follows Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: $ 720,08e 362,888 358,688 218,888 148,988 Gain on sale of equipment Income before taxes Incone taxes Net income 1e,800 15e,8e0 45,800 $ 185,8ee Its balance sheet amounts at the end of Years 1 and 2 are as follows: Year 2 Year 1 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipnent $ 64,688 $ 89,58e 260,900 11,80 319,gee 277,886 21,988 582,588 1e,see 554,180 633,880e 166,988 514,80 Less accumulated depreciation Net property, plant, and equipnent Loan to Hymans Company Total assets 132,900 66, 188 382e 1,169,208 884,588 49.800 Liabilities and Stockholders Equity Accounts payable Accrued liabilities . $ 317,000 $262,000 57,880 81,5e0 409, 5ee 210 ,0ее 1050e 505,586e 286,008 93,808 15,700 379,888 $1,169, 286 $884,588 42,889 ncome taxes payable Total current 11abilities Bonds payable Total liabilities Conmon stock Retained earnings Total stockholders equity Total liabilities and stockholders equity 443,580 358,ee 165,780

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