Note that there was no sale of equipment in 2016 but Equipment costing 15,000 was sold in 2015 without any gain or loss. Accumulated Depreciation of the equipment sold in 2015 was 12.000 and Accumulated Depreciation of 2014 was 39.000 Assume no dividends were declared or paid in 2016 Revenue for 2016 was 200,000 and Cost of Goods Sold was 148,000 Based on the information provided, please select the correct answers below. ABC Inc Balance Sheet As at January 31 2016 2015 Assets Current Assets Cash A/A 30,500 8.000 2,500 37,000 78.000 3.000 15,000 2,000 28,000 48.000 Prepaid Expenses Inventory Total Current Assets Long Term Assets Equipment Less: Accumulated Depreciation Total Long-Term Assets Total Assets 206,000 -41,000 165.000 243.000 200.000 -32,000 168.000 216.000 Liabilities 33.000 30,000 31,000 35,000 65.000 Current Liabilities Non-Current Liabilities Total Liabilities Shareholders' Equity Common Shares Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity 95.000 85,000 180.000 243.000 85.000 65,000 150.000 216.000 you use Direct Method, Cash paid for invertory is Choose you use Direct Method, Cash collected from customers is Choose Total Shareholders' Equity 150 216.000 Total Liabilities and Shareholders' Equity 243,000 If you use Direct Method, Cash paid for Inventory is Choose.. If you use Direct Method, Cash collected from customers is Choose. Operating Activities in Cash Flow statement will include: Choose... . . . . . . In 2016, cash flow for financing activities is Choose... In 2016, Non-Current Liabilities has cash Choose... Depreciation Expense for 2015 Choose... In 2016, A/R has cash Choose.. In 2015, Equipment has Choose... In 2016, Common Shares has cash Choose... . . . . Depreciation Expense for 2016 Choose... In 2016, Inventory has cash Choose.. In 2016, cash flow for investing activities is Choose... 4 In 2016, Net Income was Choose... . In 2016, cash flow for operating activities is Choose. 4