Following are the Income statement and other information for Castle Cellars Corporation. Castle CellarsCorporation Income Statement For the Year Ended December 31, 2020 Sales $3,000 Cost of goods sold 1,500 Gross margin $1,500 Operating expenses $600 Depreciation expense 300 900 Income before income taxes 600 Income taxes expense 150 Net income 450 The following other information is also given to you: Accounts receivable (net) decreased by $750 during the year. Inventory increased by $450, and Accounts Payable decreased by $600 during the year. Income Taxes Payable increased by $150 during the year. 1. Determine the adjusted net income to be calculated for cash flow purposes 2. Determine the cash flows from operating activities.