Computing Cash Flows from Operating Activities (Indirect Method) For each of the following independent cases, compute cash flows from operating activities. Assume th list below includes all balance sheet accounts related to operating activities: Table A Case 1 Case 2 Case 3 Net Income $310,000 $15,000 $420,000 Depreciation 40,000 150,000 80,000 expense Accounts 100.000 (200,000) (20,000) receivable increase (decrease) Inventory (50,000) 35,000 50,000 increase (decrease) Accounts (50,000) 120,000 70,000 payable increase (decrease) Accrued liabilities 60,000 (220,000) (40,000) increase (decrease) Computing Cash Flows from Operating Activities (Indirect Method) For the following two independent cases, show the cash flows from operating activities section of the statement of cash flows for year 2 using the indirect method. Table B Case A Case B Year 2 Year 1 Year 2 Year 1 Sales $11,000 $9,000 $21,000 $18,000 Revenue Cost of 6,000 5,500 12,000 11,000 Goods Sold Gross Profit 5,000 3,500 9,000 7,000 Depreciation 1,000 1,000 1,500 1,500 Expense Salaries and 2,500 2,000 5,000 5,000 Wages Expense Net Income 1,500 500 2500 500 Accounts 300 400 750 600 Receivable Inventory 750 500 730 800 Accounts 800 700 800 850 Payable Salaries and 1,000 1,200 200 250 Wages Payable Computing Cash Flows from Investing Activities Based on the following information, compute cash flows from investing activities under GAAP. Cash collection from customers $800 Purchase of used equipment 200 Depreciation expense 200 Sale of investments 450 Dividends received 100 Interest received 200 Computing Cash Flows from Financing Activities Based on the following information, compute cash flows from financing activities under GAAP. Purchase of investments Dividends paid Interest paid Additional borrowing from bank $250 1,200 400 2,800 Computing Cash Flows from Operating Activities(Direct Method) For each of the following independent cases, compute cash flows from operating activities using the direct method. Assume the list below includes all items relevant to operating activities. Table C Case A Case B Case C Sales revenue $65,000 $55,000 $96,000 Cost of good 35,000 26,000 65,000 sold Depreciation 10,000 2,000 26,000 expense Salaries and 5,000 13,000 8,000 wages expense Net income 15,000 14,000 (3000) (loss) Accounts (1000) 4000 3000 receivable increase (decrease) Inventory 2000 (3000) increase (decrease) Accounts 2500 (1000) payable increase (decrease) Salaries and 1500 (2000) 1000 wages increase (decrease) Computing Cash Flows from Operating Activities (Direct Method) Refer to the two cases presented in Table B (above on page 1) and for each case show the cash flow from operating activities section of Year 2 statement of cash flows using the direct method