1. Electroyo Corporation's accumulated depreciation increased by $8,500, while patents decreased by $2,800 between consecutive balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a gain of $5,350 from sale of land. Net income is $68,000. Determine the net cash flow from operating activities. 2. The net income reported on the income statement for the current year was $310,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,00o, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning 50,000 60,000 108,000 93,000 6,500 89,000 Cash Accounts receivable Inventories Prepaid expenses Accounts payable (merchandise creditors) 112,000 105,000 4.500 75,000 What is the amount of cash flows from operating activities reported on the statement of cash flows? 3. ASE Company sold goods, receiving $35,000 in cash and $15,000 on credit. How much revenue should it record under the accrual basis of accounting? 4. ASE Company sold goods, receiving $35,000 in cash and $15,000 on credit. How much revenue should it record under the cash basis of accounting? 5. On June 1, Unidevo, Inc. purchased $1,700 worth of supplies on account. Prior to the purchase, the balance in the supplies account was $0. On December 31, the fiscal year-end for Unidevo, it is determined that $800 of supplies still remain. What is the balance in the supplies account after adjustment