Q.2. Use the above information to answer the following questions from a to e (Use direct method and show all calculations): [18] Washington Company Balance Sheet December 31, 20x3 and 20X2 12/31/X3 12/31/X2 Current Assets: Cash Accounts Receivable Supplies Inventory Prepaid Insurance Total Current Assets Long-term Assets Fixed Assets Accumulated Depreciation Patent Total Long-term Assets Total Assets $ 4,600 9,500 1.200 17,500 1,400 $ 34,200 $ 3,100 7,900 2.100 18,600 1,000 $ 32,700 $ 71,000 (30,400) 6,000 $ 46,600 $ 80,800 $ 58,000 (26,500) 7,000 $ 38,500 $ 71,200 $6,100 2,200 800 2.300 $11,400 20,300 $4,900 2,600 1,000 1.500 $10,000 24.000 Current Liabilities Accounts Payable Wages Payable Interest Payable Taxes Payable Total Current Liabilities Long-term Liabilities: Bonds Payable Total Liabilities Stockholders' Equity: Common Stock Retained Income Total Stockholders' Equity Total Liabilities and Stockholders' Equity $31.700 $ 34,000 $ 22,700 26,400 $ 49.100 $ 80.800 $ 20,000 17.200 $ 37,200 $ 71,200 Washington Company Income Statement For the Year Ended December 31, 20X3 $147,500 63.800) $ 83,700 $40,200 Sales Cost of Goods Sold Gross Profit Less Operating Expenses: Wage Expense Supply Expense Insurance Expense Depreciation Expense Amortization Expense Rent Expense Operating Income Interest Expense Income before Taxes 3,000 3,900 1,000 5.400 $ 26,600 (2.600) $ 24,000 Income Tax Expense Net Income (10,800) $ 13,200 (b) (c) What was the cash collected from customers by Washington Company in 20X3? How much inventory did Washington Company purchase in 20X3? What was the cash paid to suppliers of inventory by Washington Company in 20X3? What was the cash paid to employees by Washington Company in 20X3? What was the cash paid for supplies by Washington Company in 20X3? Using indirect method, compute the net cash used/provided by operating activities? (Use the proper format of indirect method). Cash Flow Statement