QUESTION 1 Quiz Company reported the following information for 2020. Net income Depreciation expense Amortization expense Gain on sale of land Loss on sale of equipment Increase in accounts receivable Decrease in inventory Decrease in prepaid insurance Increase in accounts payable Decrease in wages payable Decrease in premium on bonds payable $700,000 45,000 10,000 5,000 12,000 75,000 80,000 40,000 100,000 30,000 25,000 Determine cash flows from operating activities for the year ended December 31, 2020. Note: Give your answer using dollar signs and commas but not decimal points (cents). Example: $12,345