4. The following items were taken from the financial statements of Stanton, Inc., over a three-year period: Item Net Sales Cost of Goods Sold Gross Profit 2010 $360,000 225,000 $135.000 2009 $335,000 205,000 $130.000 2008 $300,000 190,000 $110.000 Compute the following for each of the above time periods. a. The amount and percentage change from 2009 to 2010. b. The amount and percentage change from 2008 to 2009. 3. The net income reported on an income statement for the current year was $63,000. Depreciation recorded on fixed assets for the year was $24,000. Balances of the current asset and current liability accounts at the end and beginning of the year are listed below. Prepare the cash flows from operating activities section of a statement of cash flows using the indirect method. Cash Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Cash dividends payable Salaries payable End $65,000 70,000 86,000 4,000 Beginning $ 70,000 57,000 102,000 4,500 51,000 4,500 58,000 6,500 7,500 6,000