2. Relevant cash flows Which of the following are cash flows that Kellogg Systems Inc. forgoes as a result of accepting the project under consideration? (In general, these are the cash flows of the next-best alternative to the project.) Opportunity costs O Sunk costs O Incremental revenues Which of the following factors should Kellogg Systems Inc. include in its capital budgeting analysis? Check all that apply. Kellogg's preferred stock pays $250,000 in dividends each year. Kellogg's annual common stock dividends total $435,000. Kellogg expects its accounts receivable to decrease by $50,000 as a result of the project. Kellogg buys most of its raw materials on credit, causing accounts payable to increase by $60,000