II. TRUE/FALSE WITH EXPLANATION QUESTIONS (4 MARKS) 1. Mark Industries' income statement and related notes for the year ended December 31 are as fo (in \$): (2 marks) - Wages Payable increased $100,000. - Accumulated Depreciation increased $2,500,000. - Interest Payable decreased $200,000. - Income Taxes Payable increased $500,000. - Dividends of $100,000 were declared and paid. Mark Industries' cash flow from operations (CFO) for the year ended December 31 was 55,100,000