Exercise 6-7 The following comparative information is available for Martinez Corp. for 2017 LIFO FIFO Sales revenue $90,870 $90,670 Cost of goods sold 41,740 28,590 Operating expenses (including depreciation) 28,890 28,890 Depreciation 10,180 10,180 Cash paid for inventory purchases 31,590 31.590 Determine net income under each approach. Assume a 30% tax rate, LIFO FIFO Net income LINK TO TEXT Determine net cash provided by operating activities under each approach. Assume that all sales were on a cash basis and that income taxes and operating expenses, other than depreciation, were - cash basis LIFO FIFO Net cash provided by operating activities $ Click if you would like to show Work for this questions Open Show wock