6+4 =10 Question No. # 04: Here are comparative balance sheets for Expert Company: Expert Company Comparative Balance Sheets Assets 2021 2020 Cash 1,13,000 22,000 Account receivable $5,000 76,000 1.70,000 1,89,000 Inventory Land 75,000 1,00,000 1,80,000 2,00,000 Equipment Accumulated depreciation- equipment 66,000) 132,000) Total 5,57,000 5,55,000 Liabilities and Stockholders' Equity Accounts payable 39,000 47,000 Note payable 40,000 30,000 Bonds payable 1,60,000 2,00,000 Common stock (Tk.1 par) 2,16,000 1.74,000 Retained earnings 1,02,000 1.04,000 Total 5.57,000 5,55,000 Additional information: 1. Net income for 2021 was Tk 93,000. 2. Depreciation for 2021 was Tk. 34,000. 3. Equipment was sold for a loss of Tk. 5,000 and land was sold at a gain of Tk. 10,000 Required: a) Prepare the operating activities section of the cash flows statement for 2021 using the indirect method. b) A newly joined executive in the accounts department of Expert thinks that net income and net cash are same. Do you think he is right? Explain in brief