Chester is a company dedicated to the transports. On 1st of March 2019, Chester sells its unprofitable segment, a restaurant activity. This segment generated in 2019 a net loss of $92,000 and its assets sold at a loss of $80,000. On 14 of May 2019, an earthquake destroyed one of Chester's offices. The company suffered loss of $230,000. On 31st of December 2019, the board of managers decides to change the depreciation method from straight line to 200% declining balance method for the fleet of trucks acquired the 1st of January 2016. The effect of the change is an additional expense of $96.000 For the while year 2019 Chester reported an income from continuing operations of $1,950,000. Applicable tax rate is 30%. Chester had 200,000 shares of capital stock outstanding throughout the year Question 1: Prepare a condensed income statement including proper presentation of the discontinued restaurant operations and the extraordinary loss. Include all appropriate earnings per share figures. (50 points) Part 2: Statement of cash flows Shown below is information from the financial statements for 2019 of Robbe's Inc: Accounts Accounts receivable Inventory Prepaid expenses Accounts payable Accrued liabilities Net sales Cost of the goods sold Expenses (inlcuding depreciation of 68,000) Beginning of the year $139.000 $160.000 $12.000 $101.000 $32.000 $1.272.000 $637.000 $302.000 End of the year $100.000 $150.000 $21.000 $97.000 $30.000 Question 2: Based on the above information, prepare a partial statement of cash flows, showing the computation of net cash flows from operating activities by the indirect method. (40 points) Question 3: Explain why net income is different from the net cash provided by operations. (10 points)