New Vision Company completed its income statement and balance sheet and provided the following information: $ 66,200 $ 42,100 7,320 6,020 1,800 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 57.240 $ 8,960 $ 12,200 5,200 9,200 4,350 Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) NEW VISION COMPANY Cash Flows from Operating Activities-Indirect Method Adjustments to Reconcile Net Income to Cash Provided by Operating Activities Changes in Current Assets and Current Liabilities 2. Of the potential causes of differences between cash flow from operations and net income, which are the most important to financial analysts? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) 2 Changes in Management of Operating Activities 7 Changes in Revenue and Expense Recognition 2 Differeot Methods of Preparing Cash Flows and Income Statement