Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Lous accumulated depreciation Net property, plant, and equipment Total assets Ending Balance $ 69,200 57,300 76,900 203.400 207,000 69,000 138,000 $ 341,400 Beginning Balance $ 82,600 61,600 70,000 214,200 196,000 49.000 147,000 $ 361,200 Accounts payable Income taxes payable Donds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 44,800 34,900 84,000 98,000 79,700 $ 341,400 $ 79,700 42,500 70,000 84,000 35,000 $361,200 During the year, Ravenna paid a $8,400 cash dividend and it sold a piece of equipment for $4,200 that had originally cost $9,000 and had accumulated depreciation of $6,000. The company did not retire any bonds or repurchase any of its own common stock during the year. 9-a. What is the amount and direction (+ or -) of the income taxes payable adjustment to net income in the operating activities sect of the statement of cash flows? 9-6. What does this adjustment represent? Complete this question by entering your answers in the tabs below. Reg9A Reg 98 property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total annet 207.000 69,000 138.000 $341,400 196.000 49,000 147,000 S 361,200 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Habilities and stockholders equity $._44,800 34.900 84.000 98,000 79,700 $ 341,400 $ 79,700 42.500 70,000 84,000 B5,000 $. 361,200 During the year, Ravenna paid a $8,400 cash dividend and it sold a piece of equipment for $4,200 that had originally cost $9,000 and had accumulated depreciation of $6,000. The company did not retire any bonds or repurchase any of its own common stock during the year 9-a. What is the amount and direction (+ or -) of the income taxes payable adjustment to net income in the operating activities section of the statement of cash flows? 9-5. What does this adjustment represent? Complete this question by entering your answers in the tabs below. Reg 9A Rea 98 What is the amount and direction (+ or -) of the income taxes payable adjustment to net income in the operating activities section of the statement of cash flows? Req 98 > Required information [The following information applies to the questions displayed below.) Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total asset Ending Balance $ 69,200 57,300 76,900 203, 400 207.000 69,000 138,000 $ 341,400 Beginning Balance $ 82,600 61,600 70,000 214,200 196,000 49,000 147,000 $ 361,200 ccounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 44,800 34,900 84,000 98,000 79,700 $ 341,400 $ 79,700 42,500 70,000 84,000 85,000 $ 361,200 During the year, Ravenna paid a $8,400 cash dividend and it sold a piece of equipment for $4,200 that had originally cost $9,000 and had accumulated depreciation of $6,000. The company did not retire any bonds or repurchase any of its own common stock during the year. 10. Would the operating activities section of the company's statement of cash flows contain an adjustment for a gain or a loss? What would be the amount and direction (+ or -) of the adjustment? [The following information applies to the questions displayed below! Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Loss accumulated depreciation Net property, plant, and equipment Total assets Ending Balance 5 69,200 57,300 76,900 203,400 207.000 69,000 138,000 $ 341,400 Beginning Balance $ 82,600 61,600 70,000 214,200 196,000 49,000 147,000 $ 361,200 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 44,800 34,900 84,000 98,000 79,700 $ 341,400 $ 79,700 42.500 70,000 84,000 85,000 5 361,200 During the year, Ravenna paid a $8,400 cash dividend and it sold a piece of equipment for $4,200 that had originally cost $9,000 and had accumulated depreciation of $6,000. The company did not retire any bonds or repurchase any of its own common stock during the year. 11. What is the amount of net cash provided by (used in) operating activities in the company's stalement of cash flows? Net cash operating activities