Assume that Murphy uses the indirect method to compute cash provided by operating activities. The following information pertains to operations for the accounting period, January 1, 20x2-December 31, 20x2. Net income $550,000 Amortization expense $10,000 Depreciation expense $30,000 Gain on sale of land $75,000 Accounts receivable balance (Jan. 1) $50,000 Accounts receivable balance (Dec. 31) $30,000 Inventory balance (Jan. 1) $90,000 Inventory balance Dec. 31) $102,000 Accounts payable balance (Jan. 1) $35,000 Accounts payable balance Dec. 31) $48,000 Uneamed rent revenue balance (Jan. 1) $23,000 Unearned rent revenue balance (Dec. 31) $19,000 Dividend payable balance (Jan. 1) $80,000 Dividend payable balance (Dec. 31) $70,000 How much is the amount of cash flows from operations? a. $529,000 b. $530,000 c. $531,000 d. None of the above Assume that Murphy uses the indirect method to calculate cash flows. The following information pertains to operations for the accounting period, January 1, 20x3-December 31, 20x3. Net income $600,000 Amortization expense $20,000 Depreciation expense $?????? Accounts receivable balance (Jan. 1) $75,000 Accounts receivable balance (Dec. 31) $60,000 Inventory balance (Jan. 1) $123,000 Inventory balance (Dec. 31) $135,000 Accounts payable balance (Jan. 1) $65,000 Accounts payable balance Dec. 31) $40,000 Interest payable balance (Jan. 1) $37,000 Interest payable balance (Dec. 31) $48,000 Bonds payable balance (Jan. 1) $600,000 Bonds payable balance Dec. 31) $700,000 Assuming that cash flow from operations totals $755,000, what must have been the amount of Depreciation expense for the period? a. $146,000 b. $156,000 c. $166,000 d. None of the above 000 000 000 Which of the following entries can be a closing entry? a. Loss on Sale of Equipment Retained Earnings b. Retained Eamings Unrealized Holding Losses on FVOCI Securities c. Unrealized Holding Gains on FVPL Securities Retained Earnings d. All of the above. 000 000 000