Banana Corp. Post Closing Trial Balance December 31st, 2030 2030 2029 $350,000 $100,000 300,000 unts Receivable 450,000 chandise Inventory 200,000 oment 700,000 imulated Depreciation 350,000 500,000 100,000 50,000 10,000 80,000 |- Term Investments 100,000 unts Payable 150,000 50,000 s Payable is Payable 160,000 mon Shares 750,000 800,000 630,000 ined Earnings 370,000 Additional Information: 1. The company sold equipment for $180,000 which had originally cost $200,000 and had accumulated depreciation of $30,000. 2. The company issued 25,000 shares at $2.00 per share. 3. The company issued bonds during the year for a total of $160,000 4. There was no gain or loss on the sale of long term investments for $50,000 5. Net Income for 2030 was $300,000. REQUIRED: Based on preparing a Statement of Cash Flows using the indirect method for Banana Corp. for 2020 answer each of the following questions. a) Is the change in Accounts Receivable a source or a use of cash? b) is the change in Accounts Payable a source or a use of cash? c) Is the change in Common Shares a source or a use of cash? Question 22 Not yet answered Marked out of 1.00 Flag question What is the cash inflow (cash outflow) from Operating Activities? Answer: Cash $350,000 $100,000 Accounts Receivable 450,000 300,000 Merchandise Inventory Equipment 350,000 500,000 100,000 50,000 Accumulated Depreciation 200,000 700,000 80,000 100,000 150,000 50,000 Long-Term Investments Accounts Payable 10,000 Taxes Payable Bonds Payable Common Shares 160,000 800,000 630,000 750,000 370,000 Retained Earnings