Last year Cumberland Corporation reported a cost of goods sold of $93,000. Inventories increased by $54,000 during the year, and accounts payable increased by $8,000. The company uses the direct method to determine the net cash provided by (used in) operating activities on the statement of cash flows. The cost of goods sold adjusted to a cash basis would be: Multiple Choice $39,000 $139,000 $155,000 $85,000 Cridberg Corporation's selling and administrative expenses for last year totaled $298,000. During the year the company's prepaid expense account balance increased by $37,000 and accrued liabilities decreased by $31,000. Depreciation for the year was $63,000. Based on this information, selling and administrative expenses adjusted to a cash basis under the direct method on the statement of cash flows would be: Multiple Choice $293,000 $429,000 $167000 $303,000 Sales reported on the income statement totaled $756,000. The beginning balance in accounts receivable was $76,000. The ending balance in accounts receivable was $87,50o. Under the direct method of determining the net cash provided by (used in) operating activities on the statement of cash flows, sales adjusted to a cash basis are Multiple Choice $767,500 $744,500 $680,000 $843,500