Question 1 Hill Company reported net income of $10,000 for 2010. Additional 2010 information is as follows: Expenditures for productive assets $6000 Depreciation expense on productive assets 2000 Dividends paid on common stock 900 Increase in accounts payable 400 Decrease in inventory 200 Amortization of patent 100 Decrease in accounts receivable 300 Calculate the cash flows from operating activities. Question 2 Prior to the year-end adjustment to record bad debt expense the ledger of Stickler Company included the following accounts and balances: Allowance for doubtful accounts $15,000 Bad debt expense 0 Accounts Receivable 200,000 Cash collections on accounts receivable during 2010 amounted to $450,000. Sales revenue during 2010 amounted to $800,000. of which 75% was on credit, and it was estimated that 2% of the credit sales made in 2010 would ultimately become uncollectible. Determine the balances of the allowance for doubtful accounts and bad debt expense after the adjustment to record bad debt expense was made. The allowance for doubtful accounts has a credit balance prior to the adjusting entry. Question 3