Description:

Lehigh JeansIncome statement (select data)For the year ended Dec 31 2023Sales revenue18,000Interest revenue350Operating expenses:Depreciation1,600R&D200Wages1,500Gain (loss) on sale of equipment170Gain(loss) on sale of land-120Gain on sale of investments300

Lehigh Jeans

Comparative Balance SheetsAs of Dec 312022202320222023Current assets:LiabilitiesCash6,88511,555Accounts payable (inventory)1,225Accounts receivable (A/R)2,5504,500Unearned revenue3,5003300Inventory3,5003,150Wages payable2,5003,100Prepaid insurance (PE)600800Notes payable3,4503,400Interest receivable200315Loan payable3,500Dividend receivable0600Total current assets13,73520,920Total liabilities14,17517,375Non-current assets:PPE:Stockholders' equityEquipment12,600CS3,500less A/D Equipment4,200APIC4,960Land4,500RE5,500Investment1,500Total assets28,13535,670Total liabilities and SE28,13535,670

Solve for letter a. and letter b. please

a.

Lehigh JeansCash flow statementFor the Year ended Dec 31, 2023Direct methodCash received from customersCash paid for operating expensesNet cash from operating activitiesNet cash flows from investing activitiesNet cash from investing activitiesNet cash flows from Financing activitiesNet cash from financing activitiesNet change in cashCash, Jan 1, 2022Cash, Dec 31, 2023

b.

Indirect method (operating section)NIAdjustment for non-cash expenses:Adjustment for non-operating gain/loss:Changes in operating assets and liabilities:Net cash from operating activities