New Vision Company completed its income statement and balance sheet and provided the following information: $66,200 Service Revenue Expenses: Salaries and Wages Depreciation Utilities Office Net Income Decrease in Accounts Receivable Paid cash for equipment Increase in Salaries and Wages Payable Decrease in Accounts Payable $42,200 7,320 6,100 1,720 57,340 $ 8,860 $12,200 5, 100 9, 100 4,300 Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the direct method. Assume that Accounts Payable relate to Utilities and Office Expenses on the income statement. 2. If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar amount and in what direction would operating cash flows change? Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the direct method. Assun that Accounts Payable relate to Utilities and Office Expenses on the income statement. 2. If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar amount and in what dire would operating cash flows change? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Present the operating activities section of the statement of cash flows for New Vision Company using the direct method. Assume that Accounts Payable relate to Utilities and Office Expenses on the income statement. (Amounts to be deducted should be indicated with a minus sign.) NEW VISION COMPANY Cash Flows from Operating Activities-Direct Method $ 78,400 Cash Paid for Other Expenses Net Cash Provided by Operating Activities 4,300 14,980 97,680 IS Required Required 2 2. If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar amount and in what would operating cash flows change? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar amount and in what direction would operating cash flows change? Operating Cash Increase by $ 14,980