Larry's Luggage Company provided the following balance sheet and income statement for the current year. B (Click the icon to view the balance sheets.) Click the icon to view the income statement.) Prepare the operating activities section of the cash flow statement using the direct method. Assume accrued expenses relate to selling, general and administrative expenses. (Assume that all investment income was received in cash. Use a minus sign or parentheses for any cash outflows and/or net cash used by operating activities. If a box is not used in the statement, leave the box empty, do not select a label or enter a zero.) Larry's Luggage Company Partial Statement of Cash Flow (Direct Method) For the Year Ended December 31 Operating Activities: Net Cash Provided (Used) by Operating Activities Choose from any list or enter any number in the input fields and then continue to the next question in Hain Serbian Slast Shoo In Larry's Luggage Company Income Statement For the Year Ended December 31 Sales $ 56,000 Cost of Goods Sold 33,600 Gross Profit $ 22,400 Selling, General, and Administrative Expenses $ 11.600 Depreciation Expense 6,000 Total Operating Expenses $ 17,600 Operating Income $ 4.800 Interest Expense $ (2,100) Investment Income 634 Income before Tax $ 3,334 Income Tax Expense (1,334) Net Income $ 2,000 Print Done est Shoes. Inc., provi... Answered tho el ellin ana sont Larry's Luggage Company Sons Us Jedi Balance Sheets At December 31 Assets Ending Beginning Pd Current Assets Cash $ 1.000 S 5,000 2 Ad Accounts Receivable, net 5,500 3,000 Merchandise Inventory 4,000 1,800 Total Current Assets $ 10,500 $ 9,800 Noncurrent Assets Investments in Bonds $ 30,000 $ 10,000 Property, Plant, and Equipment - net 50,000 60,000 Total Noncurrent Assets $ 80,000 $ 70.000 Total Assets $ 90,500 S 79,800 ash Liabilities Current Liabilities om Print Done erbian West Shoes, Inc. provi... Answered 06/01 99+ Current Liabilities Accounts Payable $ 3.200 $ 4,400 Accrued Expenses 6,700 6,550 Income Taxes Payable 1,500 2,450 Total Current Liabilities $ 11,400 $ 13.400 Noncurrent Liabilities Notes Payable $ 35,000 $ 28.000 Total Noncurrent Liabilities $ 35,000 $ 28,000 Total Liabilities $ 46,400 $ 41,400 Shareholders' Equity $ 10,000 $ 9,000 Common Stock $1 par value Additional Paid-in Capital in Excess of Par- Common 15.000 12.000 Retained Earnings 19,100 17.400 Total Shareholders' Equity $ 44,100 38.400 $ 90.500 S 79.800 Print Done bian West Shoes, Inc. provi... Answered 0 99+ show work