PLUS Kimmel, Financial Accounting, 9e OURCES work Exercise 6-08 -ci (Part Level Submission) The following comparative information is available for Buffalo Industries for 2022. 1 b Part Sales revenue Cost of goods sold Operating expenses (including depreciation) Depreciation Cash paid for inventory purchases LIFO $87,000 41,000 28,000 9,000 32,990 FIFO $87,000 34,100 28,000 9,000 32,990 Laz mission) c1 (Part an (a) -C Your answer is correct. Ict (Part Determine net Income under each approach. Assume a 30% tax rate. LIFO FIFO y Study Net Income 12600 17430 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT (b) 2. Your answer is incorrect. Try again. Determine net cash provided by operating activities under each approach. Assume that all sales were LIFO FIFO Net cash provided by operating activities 21600 26430 Click if you would like to Show Work for this question: Open Show Work LINK TO TEX TER 26 O Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT (b) Your answer is incorrect. Try again. Determine net cash provided by operating activities under each approach. Assume that all sales were on a cash basis ar LIFO FIFO Net cash provided by operating activities 21600 26430 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT (c1) Calculate the quality of earnings ratio under each approach. (Round answers to 2 decimal places, e.g. 5.15.) LIFO FIFO Quality of earnings ratio Click If you would like to Show Work for this question: Modily Show Work 26 MacBook P