Following is select information for Rainbow Co. 2021 lnceme Statement Additional Information for 2021 - All sales are on account (i.e,, credit sales). - Thereare no write-offs of accounts receivable. Additional fofocmation for:2021 - All sales are on iecount (lie, credit salest. - There are no write-offs of accounts receivable. - Ali inventory purchases are on account and accounts payable relatie to inventory purchases only. - Declared and paid a \$70,000 cash clividend. Identify ALL of the following statements that are TRUE regarding the 2021Cash Flow Statement under the DIRECT method: The operating activities section included cash paid to inventory suppliers of $870,000. The operating activities section included payment of dividends of $70,000. The investing activities section included an addition for decrease in Income Tax Payable of $16,000. The operating activities section included cash collected from customers of $1,380,000. The operating activities section included cash paid for interest of $42,000. The financing activities section included cash paid for income taxes of $38.00 Following is select information for Rainbow Co. 2021 lnceme Statement Additional Information for 2021 - All sales are on account (i.e,, credit sales). - Thereare no write-offs of accounts receivable. Additional fofocmation for:2021 - All sales are on iecount (lie, credit salest. - There are no write-offs of accounts receivable. - Ali inventory purchases are on account and accounts payable relatie to inventory purchases only. - Declared and paid a \$70,000 cash clividend. Identify ALL of the following statements that are TRUE regarding the 2021Cash Flow Statement under the DIRECT method: The operating activities section included cash paid to inventory suppliers of $870,000. The operating activities section included payment of dividends of $70,000. The investing activities section included an addition for decrease in Income Tax Payable of $16,000. The operating activities section included cash collected from customers of $1,380,000. The operating activities section included cash paid for interest of $42,000. The financing activities section included cash paid for income taxes of $38.00