QUESTION 27 $15,000 Q 27 - 30 Nongshin Company reported the following income statements for the year ended on Dec 31, 2021 and the balance sheets for 2021 and 2020. Dec. 31 Dec. 31 Income Statement Year 2021 Balance Sheet 2021 2020 Net Sales Revenue $ 180,000 Cash ? ? Cost of Goods Sold ($145,000) Accounts Receivable $25,000 $33,000 Gross Profit $ 35,000 Merchandise Inventory $18,000 Depreciation Expense ($1,100) Land $130,000 $80,000 Other Operating Expenses ($2,600) Equipment $40,000 $102,000 Operating Income $ 31,300 $ Accumulated Depreciation ($6,000) ($55,000) Interest Expense ($500) Accounts Payable $9,200 $7,000 Loss from Disposal ($950) Notes Payable (Long-term) $45,000 $10,000 Income Tax Expense ($6,000) Common Stock ? ? Net Income $ 23,850 Retained Earnings $180,000 $125,000 Additional information: : Nongshin purchased land for $15,000. Of this amount, $3,000 was paid in cash and $12,000 was paid by issuing a three-year note payable. Nongshin sold equipment and received cash. The equipment had a cost of $11,000 and accumulated depreciation of $9,400 before disposal. The loss from the disposal is $950. . During 2021, there were no cash payments to retire notes payable. . During 2021, Nongshin issued common stock for $4,000 cash. Nongshin has not issued any preferred stock. All dividends were paid in cash during 2021. All of Nongshin's sales were credit sales in 2021. Q27. Find Nongshin's cash flow from operating activities in 2021. $22,320 $24,320 $26,320 $28,320 QUESTION 28 Q28. Find Nongshin's cash flow from investing activities in 2021. ($1,350) ($2,350) ($3,350) ($4,350) QUESTION 29 Q29. Find Nongshin's cash flow from financing activities in 2021. ($21,250) ($22,250) ($23,250) ($24,250) QUESTION 30 Q30. Which of the following is NOT correct? Nongshin's profit margin ratio is 0.13. Nongshin's days' sales in inventory is 8.18. Nongshin's days' sales in receivables is 6.79. Nongshin's dividend payout ratio is 0.84