bjectives CT24-1 The statements of cash flows for Crisfeld Electric Supply and Somerset Electric Company for 1984, which follow, are presented side by side Crisfield Supply Somerset Electrical 91700000 83600000 21000 100 85700000 91700000 45800000 205 0 0000 650 000 35 0000 707 50000 149150010 523 000 00 214 000.00 18 20000 29 500 00 078470000) 13230000 (40 000 Lash Hows from Operating Activities Cash Receipts from Sales Interest/Dividends Total Cash Payments for Purchases Operating Expenses Interest Payments Income Taxes Net Cash Flows from Operating Activities Cash Flows from Investing Activities Purchases of Investments Purchases of Property Plant and Equipment Assets Sale of Property Plant, and Equipment Assets Net Cash Flows from Investing Activities ash Flows from Financing Activities Issuance of Long Term Debt Retirement of Long Term Debt Issuance of Common Stock Payment of Dividends Net Cash Flows from Financing Activities Net Increase in Cash Cash at Beginning of You Cash End of Year (35 0000 (110 00 00 4000000 (75000.00 (700000 10000000 (0000000 100 0 0000 (30000 (4000000) 10 000.00 H450000 2190000 1050000 000000 122101010 1200000 1000000 Requirements Respond to the following 1 Which company had the larger cash balance at the beginning of the year? At the end of the year? 2. How much cash did each company receive from operations during the year? 3. What were the sources of the two largest cash receipts for each company during the year? 4 What were the three largest cash payments for each company during the year? 5. What additional information, if any, will you need to determine the net income for each company for the year? 6. Explain in detail which company you believe is in a better financial position and why Include a description of the additional information you would like to help you answer this question more precisely