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c. Does management have move coitrol 0l le lays for investing activities than for operating activities? Explain The following income statement and selected balance sheet account data are avala lens LOS PROBLEM 134A Reporting Operating Inc., at December 31, 2011 Cash Flows by the Direct Method Los TREECE, INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2011 Revenue: Net sales . Dividend income Interest income Gain on sales of marketable securities 2 850 00 70.0 3,028.0 Total revenue and gains . .. Costs and expenses Cost of goods sold Operating expenses Interest expense Income tax expense ..$1,550,000 980,000 185,000 90,000 Total costs and expenses Net income... 805 000 End of Beginning Selected account balances Accounts receivable Accrued interest receivable .. Inventories Short-term prepayments Accounts payable (merchandise suppliers) .. Accrued operating expenses payable Accrued interest payable Accrued income taxos payable 650,000 70 9,0006. 800,000 7650 20,000 15 570,000 56200 65,000 9400 21,000 12 22,000 0