Use the following information and prepare an Income Statement to calculate the net profit and a Statement of Cash Flows (identify each payment separately) for the month. Identify 2 causes for the difference between net profit and cash flow from operatingactivities. Describe what the Cash Flow Statement reveals. Bank balance beginning of month Bank balance, end of month + Cash drawings Cash sales Collections from accounts receivable Cost of sales Credit sales Depreciation expense Equipment purchased for cash 5,600 3,800 20,000 72,000 32,000 64,000 46,000 3,500 68,000 Inventory purchased for cash Miscellaneous ex enses aid Payment on accounts payable Proceeds from bank loan Proceeds from sale of equipment Rent expense Rent paid in advance for the next 6 months Wages paid 28,000 8,000 44,000 83,000 12,000 800 4,800 22,000