Question Completion Status: Moving to another question will save this response. Question 2 Following are selected balance sheet accounts of Travis Corp. at December 31, 2022 and 2021, and the increases or decreases in each account from 2021 to 2022. Also presented is selected income statement information for the year ended December 31, 2022, and additional information. Increase Selected Balance Sheet Accounts 2022 2021 Decrease Assets Accounts receivable $40,000 $28,000 $12,000 Inventory 17.000 17,00 10,000) Prepaid insurance 7.000 9,000 (2,000) Property, plant, and equipment 415,000 400,000 15,000 Accumulated depreciation (165,000) (134,000) $1,000 Liabilities and Stockholders' Equity Accounts payable 48,000 39,000 9.000 Deferred tax liability 4.000 7.00 (3,000) Bonds payable 100,000 100,000 0 Bond discount (3,000) (4,000) (1,000) Common stock, $1 par 42,000 40,000 2,000 Additional paid-in capital 136,000 120,000 16,000 Retained earnings 38,000 58,000 (20,000) Selected Income Statement Information for the Year Ended December 31, 2022 Sales revenues $200,000 Cost of goods sold (105,000) Insurance expense (12,000) Depreciation expense 60,000) Interest expense (8,000) Gain on sale of equipment 15,000 Income tax expense (6,000) Net income 24,000 Additional Information: a. Accounts receivable relate to sales of merchandise. b. During 2022, equipment costing $80,000 was sold for cash. c. During 2022, Travis issued a 5% stock dividend (2,000 shares). The market price of the $1 par value common stock was $9 per share at that time. Required: (do not enter dollar sign; do not add a comma when entering an amount; Amounts to be deducted should be indicated with a minus sign) Items 1 through 8 represent activities that will be reported in Travis's statement of cash flows for the year ended December 31, 2022. The following two responses are required for each item: a. Determine the amount that should be reported in Travis's 2022 statement of cash flows. 6. Select the category (i.e., O - Operating activity, I - Investing activity and F - Financing activity) in which the amount should be reported in the statement of cash flows. Amount 1) Cash collections from customers Category Cash paid to suppliers 3) Cash paid for insurance 4) Cash paid for interest 5 ) Cash paid for income tax 6 ) Proceeds from sale of equipment Payments for purchase of property, plant, and equipment 8 ) Cash dividends paid Moving to another question will save this response