Exercise 6-7 The following comparative information is available for Sarasota Corp. for 2017, Sales revenue Cost of goods sold Operating expenses (including depreciation) Depreciation Cash paid for inventory purchases LIFO $83,810 39,770 28,380 10,290 32,230 FIFO $83,810 28,340 28,380 10,290 32,230 X] Your answer is incorrect. Try again. Determine net income under each approach. Assume a 30% tax rate. LIFO FIFO Net Income 15660 27090 LINK TO TEXT Ex Your answer is incorrect. Try again. Determine net cash provided by operating activities under each approach. Assume that all sales were on a cash basis and that income taxes and LIFO FIFO ES Net cash provided by operating activities Click if you would like to Show Work for this question:ren Show Work