Q1. Use the following information & the indirect method to find net cash provided or used by operating activities (1% marks). Net income. Depreciation expense. Payment on mortgage payable. Gain on sale of land .. Increase in merchandise inventory.. Increase in accounts payable.. Proceeds from sale of land. $12,300 12,000 15,000 7,500 2,050 6,150 8,000 Show plausible calculations to get credit Answer: State the amounts and whether it is an inflow or outflow. Q2. Acme Co. had the following cash flows and ending cash balance during 2019. Net cash provided by operating activities was $18,000; net cash used in investing activities was $10,000 and net cash used in financing activities was $12,000. The cash balance on Dec 31, 2019 was $21,000. Determine Acme's cash balance on Jan 1, 2019 (1 mark)