O Required information [The following information applies to the questions displayed below.) Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: teding Deginning Cash & cash equivalents Balance Balance $ 72,600 Accounts receivable 5 86,350 59,300 63,800 Inventory 79.600 72,500 Total current assets 211,500 223, 150 Property, plant, and equipment 213,000 203.000 Les accumulated depreciation 71.000 50, 750 Net property, plant, and equipment 142.000 152/250 Total asset $353,500 $ 375,400 Accounts payable $ 46.400 $82,500 Income taxes payable 36,100 45.400 Donds payable 87,000 72,500 Common stock 87,000 Retained earnings 1,500 13,000 Total liabilities and stockholders' equity $ 353,500 $375,400 During the year, Ravenna paid a $8,700 cash dividend and it sold a plece of equipment for $4,350 that had originally cost $9,600 and had accumulated depreciation of $6,400. The company did not retire any bonds or repurchase any of its own common stock during the year 101.500 2. What net income would the company include on its statement of cash flows? Not Income year is as follows: Section of its Cash & cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock tained earnings Total liabilities and stockholders' equity Ending Balance $ 72,600 59,300 79,600 211,500 213,000 71.000 142,000 $ 353,500 $ 46,400 36,100 87,000 101,500 82,500 $ 353,500 Beginning Balance $ 86,850 63,800 72,500 223,150 203,000 50.750 152,250 $ 375,400 $ 82,500 45,400 72,500 87,000 B9.000 $ 375,400 During the year, Ravenna paid a $8,700 cash dividend and it sold a piece of equipment for $4,350 that had originally cost $9,600 and had accumulated depreciation of $6,400. The company did not retire any bonds or repurchase any of its own common stock during the year. How much depreciation would the company add to net income on its statement of cash flows? Depreciation Required information The following information applies to the questions displayed below) Ravenna Company is o merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Ending Deginning Dalance Balance Cash & cash equivalents $ 72,600 $ 86,850 Accounts receivable 59,300 63,800 Inventory 79,600 72,500 Total current assets 211,500 223,150 Property, plant, and equipment 213,000 203,000 Less accumulated depreciation 71,000 50,250 Net property, plant, and equipment 142.000 152.250 Total assets 5 353,500 $375,400 Accounts payable 46,400 $ 82,500 Income taxes payable 36,100 45,400 Bonds payable 87,000 72,500 Common stock 101,500 87,000 Retained earnings 82.500 38,000 Total liabilities and stockholders' equity 5 353,500 $ 375,400 During the year, Ravenna paid a $8,700 cash dividend and it sold a plece of equipment for $4,350 that had originally cost $9,600 and had accumulated depreciation of $6,400. The company did not retire any bonds or repurchase any of its own common stock during the year 4-a. If the company debited Accounts Receivable and credited Sales for $870,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? ! 5 Required information [The following information applies to the questions displayed below) Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Hoding Deginning Balance Balance Canh & cash equivalents 572,600 5 86,050 Accounts receivable 59,300 63,00 Inventory 79.500 72,500 Total current assets 211,500 223 150 Property, plant, and equipment 213,000 203,000 Less accumulated depreciation 71.000 50.250 Net property, plant, and equipment 142,000 152, 250 Total assets $ 353,500 $375,400 Accounts payable 546,400 5.82,500 Income taxes payable 36,100 45,400 Bonds payable 87.000 72,500 Common stock 101,500 87,000 Retained earnings 82,500 88,000 Total liabilities and stockholders equity $ 353,500 $375,400 During the year, Ravenna paid a $8,700 cash dividend and it sold a piece of equipment for $4,350 that had originally coit $9,600 and had accumulated depreciation of $6,400. The company did not retire any bonds or repurchase any of its own common stock during the year. 5-a. What is the amount and direction (tor) of the accounts recevable adjustment to net income in the operating activities section of the statement of cash flows