Question 33 8 pts The owners of Challenge Industries Pty Ltd were not sure how to report their Cash Flow Statement for the period ending 30 June 2020. They approach you for advice and to provide clarity relating to four identified accounts that may be in error. The four accounts are Depreciation - outflow and currently classified as an Operating Activity Purchase of Equipment financed by way of a Note Payable classified as inflow Investing Activities Interest on Loan - inflow and currently classified as a Financing Activity. Credit purchase of inventory-outflow and currently classified as an Operating Activity. Required: State why the four accounts are in error and reclassify the errors where appropriate. Example: Bad debts Bad Debts in Operating Activities: Should not be included in Operating Activities and whilst it is an expense relating to the core business, bad debts are a non-fund item and no movement of cash