instructions a. Determine net income under each approach. Assume a 30% tax rate. b. Determine net cash provided by operating activities under each approach. Assume that all sales were on a cash basis and that income taxes and operating expenses, other than depreciation, were on a cash basis. c. Calculate the quality of earnings ratio under each approach and explain your findings. (Round answer to two decimal places.) E6.9 (LO 3), AP Digital Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Determine LCNRV valuation. Net Realizable Value Units Cost per Unit per Unit Cameras Minolta 5 $170 $158 Canon 7 145 152 Light Meters Vivitar 12 125 114 Kodak 10 120 135