Q3. a) Sleep Country began 2019 with accounts receivable, inventory, and prepaid expenses totalling $65,000. At the end of the year, Sleep Country had a total of $78,000 for these current assets. At the beginning of 2019, Sleep Country owed current liabilities of $42,000, and at year-end, current liabilities totalled $40,000. Net income for the year was $80,000. Included in net income were a $4,000 gain on the sale of land and depreciation expense of $9,000. Show how Sleep Country should report cash flows from operating activities for 2014. Sleep Country uses the indirect method. b) Identify the effectsboth the direction and the dollar amountof the following assumed transactions on the total shareholders equity of a large corporation. Each transaction is independent. a) Declaration of cash dividends of $80 million b) Payment of the cash dividend declared c) 10% stock dividend. Before the dividend, 69 million common shares were outstanding; d) the market price was $7.625 at the time of the dividend. e) A 50% stock dividend. Before the dividend, 69 million common shares were outstanding; f) the market price was $13.75 at the time of the dividend. g) Sale of 600 common shares for $5.00 per share h) A 3-for-l stock split. Prior to the split, 69 million common shares were outstanding.