9 The following is a list of income statement accounts that must be converted from the accrual basis to the cash basis in order to calculate cash provided (used) by operating activities using the direct method: " For each of the below income statement accounts, identify if (a) the change in the current asset or current liability account stated in the second column should be added or deducted from the income statement account in order to convert the accrual-based number to a cash-based number; and (b) the title of the resulting cash receipt or payment on the statement of cash flows. The first one has been done for you as an example. Income Statement Account 1. Sales revenue 2. Dividend revenue 3. Interest revenue 4. Rent revenue 5. Cost of goods sold 6. Cost of goods sold 7. Insurance expense. 8. Salaries expense 9. Interest expense 10. Income tax expense Change in Current Asset/ Current Liability Account Decrease in accounts receivable Increase in dividends receivable Decrease in interest receivable Decrease in unearned rent Decrease in inventory Decrease in accounts payable Decrease in prepaid insurance Decrease in salaries payable Increase in interest payable Decrease in income tax payable (a) Add or Deduct from Income Statement Account Add (b) Related Cash Receipt or Payment Cash receipts from customers > >> > > > >