QUESTION 13 The net income reported on the income statement for Xavier Company for the current year was $280,000 Depreciation recorded for the year was $49,000. Changes in account balances of current assets and current liabilities for the year are as follows: Increase/Decrease) Cash $(10,000) Accounts receivable 4,000 Inventories 12,000 Prepaid expenses (2.000) Accounts payable (14,000) What is the amount of cash flows from operating activities reported on the statement of cash flows prepared using the Indirect method? a $203,000 b.$301,000 C5357,000. d. $329,000 QUESTION 14 During the current year, Zodiac Corporation issued common stock for $100,000 cash, and cash dividends of $50,000 were declared. Cash dividends payable were $10,000 and $12,000 at the beginning and end of the year, respectively. For the current year, the net cash flows from financing activities is: a. $52,000. b.$100,000 c. $50,000 d. 540,000 QUESTION 15 Below is selected information for the current year for Raleigh Company. Assume that all balance sheet amounts represent both average and ending balances. Cash and short-term investments $40,000 Accounts receivable (net) 30,000 Inventory 25,000 Property, plant and equipment (net) 215,000 Total current liabilities 60,000 What is Raleigh Company's current ratio? a. 1.58 b.0.78 c. 0.67 d. 1.42