(1) May's accounts receivable turnover and inventory turnover for FY 2018 were 14.6 and 10.4 respectively. Its payable outstanding period for FY 2019 increased by 2 days and it reported higher net profit in FY 2019 than in FY 2018. Assume the gross margin and net profit margin for both years remain the same and all other operating expenses were paid in cash. Explain whether May's operating cash flows in FY 2019 are likely to be higher or lower than in FY 2018. (2) The net carrying amount of May PPE as at 31 March 2018 was $343,000. Determine the net carrying amount of its PPE as at 31 March 2019 (1) May's accounts receivable turnover and inventory turnover for FY 2018 were 14.6 and 10.4 respectively. Its payable outstanding period for FY 2019 increased by 2 days and it reported higher net profit in FY 2019 than in FY 2018. Assume the gross margin and net profit margin for both years remain the same and all other operating expenses were paid in cash. Explain whether May's operating cash flows in FY 2019 are likely to be higher or lower than in FY 2018. (2) The net carrying amount of May PPE as at 31 March 2018 was $343,000. Determine the net carrying amount of its PPE as at 31 March 2019