1. During 2020, Pfisher Company converted $3,500,000 of its total $5,000,000 of bonds payable into common stock. Indicate how the transaction would be reported on a statement of cash flows, if at all. 2. Give the formulas under the direct method for computing: a) cash receipts from customers, and, b) cash payments to suppliers 3. In the direct method, why is depreciation expense not reported in the cash flows from operating activities