questions to ABC Market's sinale sten income statement below to answer ABC Markot, Inc, Income Statement For the vear andmed tiviatis. If ABC reformatted the income statement and presented it in multi-step format, answer the following questions to indicate how the various items should be classified. 17. What wos ABcis incone before times 14. There are two methods of proparing sond presenting the operimira section of the Cash Flow Statement. Which method etarts with not income, and then stiows various adjustments that are either added or subtracthd from aconal basis net income to 13. How should the foltowing tranaction be classified in the cash flow shatement? "Cash pald to purchase merchandise inventory to resell to customers" br in the Tnveit Ino baet ton c. in the ptnansing section flow atatement Should the following transaction be classifled in the cash flow statement? yments of dividends to stockholders 22. How should the following transaction be classined in the caner Fow statemem? An increase in cash flow due to a dectnase in the Rocounts Recelvatle bilance during the year? 23. How should the following transaction be classiffed in the cash flow statement? "Cash received from the sale or maturity of a Short-tetrn investment such as a firm's. investment in an interest eaming security like commercial paper ot a Treasury bin: in. In the operating section b. In the frivaring section c. In the Financing dection d. Ae a "nen-cash" transaction shown below the body of the caen 24. How should the following transaction be classified in the cash fiow statement? "Cash payments to repurchase common stock of the compary (called treasury stock if it can later be reissued)" a. In the Operating section b. In the Investing section o, in the Financing section d. as a "non-cash" transaction shown below the body of the Cand