Balance Sheet June 30th, Year 5 The following are all transactions that happened during Year 6 : Made all sales on account of $250,000 Collected accounts receivable of $245,000 Purchased merchandise on account of $134,000 Determined cost of goods sold was $135,300 Paid accounts payable (for merchandise purchased) of $143,000 Paid wages to employees of $64,000 Accrued wages expense (and wages payable) of $1,500 at June 30th, Year 6. Paid insurance premium of $18,000 to extend coverage for three years. Allocated $5,000 of prepaid insurance to insurance expense. Recorded Year 6 total income tax expense (and income tax payable) of $13,000 Paid income taxes to government of $11,500 (this represents the final portion of Year 5 taxes and initial installments of Year 6 taxes). Depreciation for the year $10,000 Required 1: What is the amount of Cash received (paid) from employees? \$ Required 2: What is the amount of cash generated (used) by Inventory in year 6 ? \$ Required 3: What is the amount of cash generated (used) by operations in year 6 ? $ Required 4: What is amount of Net Income reported in year 6 ? \$ Required 5: What is ending balance of Cash at the end of Year 6? $ Required 6: What is ending balance of Inventory at the end of Year 6$$ Required 7: What is ending balance of Retained Earnings at the end of Year 6?$