28. St. Nicholais Company prepared the tabulation below at December 31, 2020. $307,000 Net Income... Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense, $32,000 Decrease in accounts receivable, 550,000 Increase in inventory, $12,000 Decrease in accounts payable, $8,600 Increase in income taxes payable, $1,500 Loss on sale of land, S5,000 Instructions Show how each item should be reported in the cash provided (used) by operating activities on the Statement of Cash Flows. Use parentheses for deductions. Net Income... $307,000 Adjustments to reconcile net income to net cash provided by operating activities: Net cash provided (used) by operating activities de o bort m 27. Washington Corp, held 1.500 of Jefferson Company common stock with a costo 536.900. These shares were classified as a Long-Term available for sale (APS) investment a) On October 31, Washington Core e agh dividends of S0.15 per share from its investment in Jefferson Com's common stock Prepare the investor's journal entry to record the receipt of the cash dividends. DATE DESCRIPTION DR CR b) It sold the shares on December 9 for $42,100. Prepare the journal entry to record Washington's sale. DATE DESCRIPTION DR CR