5 of 10 Schmitt Company reported the following transactions: Bought $91,000 of inventory, paying cash Sold inventory that cost $67,000, receiving $160,000 cash from the customer Sold inventory that cost $49,000, receiving $150,000 cash from the customer Received a $50,000 prepayment from a customer for services to be provided next year What effect do these transactions have on Schmitt Company's Net Income? $ in net income are positive and decreases in net income are negative. What effect do these transactions have Schmitt Company's on Cash? $ are positive and decreases in cash are negative. Enter your answer such that increases Enter your answer such that increases in cash