(Apoendar 11A) Cash Payments for Operating Expenses Luna inc, reported operating expenses of $126,100, excluding depreciation expense of $36,200. During the year, Luna reported a decrease in prepait expenses of $7,400 and a decreas in accrued liatibies of $18,200. Required: Compute the amount of cash payments for operating expenises using the direct method. (Appendix 11A ) Determining Net Cosh Flow from Operating Actrvities-Direct Method Presented below are selected balance sheet information and the income statement for Burch Company. Burch Company Teurnas \&tatomenat Required: Compute the net cash flows from operating activities using the direct method: Analyzing the Accounts Casey Company uses a perpetual inventory system and engaged in the following transactions: a. Made credit sales of $615,000. The cost of the merchandise sold was $417,500. b. Collected accounts receivable in the amount of $526,000. c. Purchased goods on credit in the amount of $445,150. d. Paid accounts payable in the amount of $403,200. Required: Prepare the journal entries necessary to record the transactions. If an amount box does not require an entry, leave it blank. Indicate whether each transaction increased cash, decreased cash, or had no effect on cash. a. Made credit sales of $615,000. The cost of the merchandise sold was $417,500. b. Collected accounts receivable in the amount of $526,000. c. Purchased goods on credit in the amount of $445,150. Determining Cash Flows from Finanding Activities Solomon Construction Compary reported the following amount on its balance sheet for notes payable: 1. If Solomon did not repay any notes payable duning the year, determine how much cash solomon recerved from the issuance of notes payable. 2. If Solomon repaid $60,000 of notes payable during the year, determine what amounts Solomon would report in the financing activities section of the statement of cash flows. Payment of notes payable Issuance of notes payable (Appendix itA) Prepanng Net Cash Flows from Operating Activities-Direct Method Colassard Industries has the following data avalable for preparation of its statement of cash flows: Required