During the year, Hepworth Company earned a net income of $61,025. Beginning and ending balances for the year for selected accounts are as follows: There were no financing or investing activities for the year. The above balances reflect all of the adjustments needed to adjust net income to operating cash flows. Required: 1. Prepare a schedule of operating cash flows using the indirect method. 2. Suppose that all the data used in Requirement 1 except the ending accounts payable and cash balances are not known. Assume also that you know that the operating cash flow for the year was $20,475. What is the ending balance of accounts payable? 3. Conceptual Connection: Hepworth has an opportunity to buy some equipment that will significantly increase productivity. The equipment costs $25,000. Assuming exactily the same data used for Requirement 1, can Hepworth buy the equipment using this year's operating cash flows? Reter to the list below for the exact wording of an amount description within your Statement of Cash Flows. Operating Cash Flows - Indirect Method Shaded cells have teedback. X Final Questions Shaded cells have feedback. X 1. Prepare a schedule of operating cash flows using the indirect method. (Note: Use a minus sign to indicate any decreases in cash or cash outfiows. Reter to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.) Question not attempted. 2. Suppose that all the data used in Requirement 1 except the ending accounts payable and cash balances are not known. Assume also that you know that the operating cash flow for the year was $20,475. What is the ending balance of accounts payable