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QUESTION 1. Below is the income statement for 2022 and the balance sheets for 2022 and 2021 for the Safie Company, along with additional data

image text in transcribed QUESTION 1. Below is the income statement for 2022 and the balance sheets for 2022 and 2021 for the Safie Company, along with additional data for 2022. 1. Prepare the Operating Activities section of Safie's Statement of Cash Flows. Show your LABELLED work on the page before the section. 2. SHOW LABELED CALCULATIONS to determine how much cash was paid for taxes, which is one of the one of the required disclosures. AND WHAT IS THE OTHER REQUIRED DISCLOSURE? 3. Prepare the Note for Significant Noncash Transactions, if one is necessary. If not, state NONE NEEDED. 4. What is Safie's Free Cash Flow? Quality of Earnings ratio? Are these good or bad, and why? SHOW YOUR LABELLED CALCULATIONS 5. What stage of life is this company probably in? Why? What other information would help establish this for certain? 6. Was it wise to pay dividends this year? Why or why not

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