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The income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Mike Roe Computers MIKE ROS COMPUTERS Income Statement For the Year Ended December 31, 2021 in millions) Bales $149.80 cont of goods sold (89.90) Gross margin 59.90 salaries expense $19.80 Insurance expense 11.00 Depreciation expense 4.90 Interest expense 5.90 (42.40) Gains and loses Gain on sale of equipment 11.80 Los on sale of land (2.80) Income before tax 26.50 Income tax expense (13.25) Net Income 5 13.25 ances 13.25 Neonellation of Net Income to Net Cash Flowe fron Operating Activities in millione) Net Income Adjustments for noncash effectar Decrease in accounts receivable Cain on sale of equipment Increase in inventory Increase in accounts payable Increase in salaries payable Depreciation expense Decrease in bond discount Decrease in prepaid Insurance Loud on sale of land Increase in income tax payable Het cash flows from operating activities 4.90 (11.80) (5.90) 8.90 2.90 4.90 2.95 1.90 2.80 5.90 $ 30.70 Required: 1. Provide the summary Journal entries which shows the cash flow for each of the following for Mike Roe Computers during the reporting period: (al received from customers. Il paid to suppliers.Icl paid to emplovees. (d) paid for interest. (e) Dald for insurance, Prev 1 of 4 Next > Required: 1. Provide the summary journal entries which shows the cash flow for each of the following for Mike Roe Computers during the reporting period: (a) received from customers. (b) paid to suppliers, (c) paid to employees, (a) paid for interest (e) paid for insurance, ( paid for income taxes 2. Prepare the cash flows from operating activities section of the statement of cash flows (direct method) Complete this question by entering your answers in the tabs below. ok Required 1 Required 2 Provide the summary journal entries which shows the cash flow for each of the following for Mike Roe Computers during the reporting period: (a) received from customers, (b) paid to suppliers, (c) paid to employees, (d) paid for interest, (e) paid for insurance, () paid for Income taxes. (If no entry is required for a transaction/event, select "No journal entry required in the first account field, Enter your answers in millions rounded to 2 decimal places (I.e., 5,500,000 should be entered as 5.50).) Show less aces View transaction list Journal entry worksheet Record the summary Journal entry showing cash received from customers during the reporting period. Note: Enter debits before credits Event General Journal Debit Credit Proy 1 of 4 ! Next > Required 1 Required 2 Provide the summary journal entries which shows the cash flow for each of the following for Mike Roe Computers during the reporting period: (a) received from customers, (b) paid to suppliers, (c) paid to employees, (d) paid for Interest, (e) paid for insurance, ( paid for Income taxes. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 2 decimal places (I.e., 5,500,000 should be entered as 5.50).) Show less View transaction list nt nces Journal entry worksheet DE F Record the summary journal entry showing cash paid to suppliers of goods during the reporting period. Note: Enter debits before credits General Journal Debit Credit Event b Record entry Clear entry View general Journal Prey 1 of 4 !!! Next > Required 1 Required 2 Provide the summary journal entries which shows the cash flow for each of the following for Mike Roe Computers during the reporting period: (a) received from customers, (b) paid to suppliers, (c) paid to employees, (d) paid for Interest, (e) paid for insurance, (O paid for Income taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places (.e., 5,500,000 should be entered as 5.50).) Show less View transaction lat Journal entry worksheet D E F B 8 Record the summary Journal entry showing cash paid to employees during the reporting period. Note: Enter debits before credits Event General Journal Debit Credit c. Record entry Clear entry View general Journal Proy 1 of 4 !!! Next > Required 1 Required 2 Provide the summary journal entries which shows the cash flow for each of the following for Mike Roe Computers during the reporting period: (a) recelved from customers, (b) paid to suppliers, (c) pald to employees, (d) paid for Interest, (e) paid for insurance, paid for Income taxes. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 2 decimal places (.e., 5,500,000 should be entered as 5.50).) Show less View transaction lit Journal entry worksheet Required 1 Required 2 Provide the summary journal entries which shows the cash flow for each of the following for Mike Roe Computers during the reporting period: (a) received from customers, (b) paid to suppliers, (c) paid to employees, (d) paid for interest, (e) paid for insurance, ( paid for income taxes. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 2 decimal places (.e., 5,500,000 should be entered as 5.50).) Show less View transaction list Journal entry worksheet Required 1 Required 2 Provide the summary journal entries which shows the cash flow for each of the following for Mike Roe Computers during the reporting period: (a) received from customers, (b) paid to suppliers, (c) paid to employees, (d) paid for Interest, (e) paid for insurance, in paid for income taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places (.e., 5,500,000 should be entered as 5.50).) Show less View transaction list Journal entry worksheet MacBook Pro Required: 1. Provide the summary Journal entries which shows the cash flow for each of the following for Mike Roe Computers during the reporting period: (a) received from customers. (b) paid to suppliers, (c) paid to employees. (d) paid for Interest, (e) paid for insurance, paid for income taxes. 2. Prepare the cash flows from operating activities section of the statement of cash flows (direct method). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the cash flows from operating activities section of the statement of cash flows (direct method). (Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50). Amounts to be deducted should be indicated with a minus sign.) Cash Flows from Operating Activities: Net cash flows from operating activities