New Vision Company completed its income statement and balance sheet and provided the following information: Service Revenue Expenses: Salaries and Wages Depreciation Utilities Office $ 66,800 $ 42,800 7,380 6,400 1,780 58,360 $ 8,440 $ 12,800 5,400 Increase in Salaries and Wages Payable 9,400 4,450 Net Income Decrease in Accounts Receivable Paid cash for equipment Decrease in Accounts Payable 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? 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 $ 0 < Required 1 Required 2 > 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 Flows < Required 1 Required 2