2 Exercises ax r 12 Exercises (Statc) The following information was reported by three companies. When completing the requirements, assume that any and all purchases on account are for inventory Aztec Bikes Campus Corporation Unlimited Cycles Cost of goods sold tnventory purchases from suppliers made using Inventory purchases from suppliers made on 175 175 $358 288 280 200 2e0 Cash payments to suppliers on account Beginning inventory Ending inventory Beginning accounts payable Ending accounts payable 160 18e 125 80 128 16e 2e0 250 1e0 125 120 Required: 1. What amount did each company deduct on the income statement related to inventory? 2. What total amount did each company pay out in cash during the period related to inventory purchased with cash and on account? 3. By what amount do your answers in requirements 1 and 2 differ for each company? 4. By what amount did each company's inventory increase (decrease)? By what amount did each company's accounts payable increase (decreaselP 5. Using the indirect method of presentation, what amount s) must each company add (deduct) from net income to convert from accrual to cash basis? Complete this question by entering your answers in the tabs below 120 120 Ending accounts payable Required: t. What amount did each company deduct on the income statement related to inventory? 2. What total amount did each company pay out in cash during the period related to inventory purchased with cash and on a 3. By what amount do your answers in requirements 1 and 2 differ for each company? By what amount did each company's inventory increase decrease)? By what amount did each company's accounts payab ncrease (decrease]? 5. Using the indirect method of presentation, what amount's) must each company add (deduct) from net income to convert fr accrual to cash basis? Complete this question by entering your answers in the tabs below. Required 1Required 2 Required 3 Required 4 Required 5 what amouit did each comparly deduct on the income statement related to inventory? Bakes Required 2 K Prev 6 of 25 Next > 96 8