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:

	Ending Balance			Beginning Balance
Cash and cash equivalents	$	97,200		$	116,700
Accounts receivable		77,600			83,600
Inventory		104,200			95,000
Total current assets		279,000			295,300
Property, plant, and equipment		276,000			266,000
Less accumulated depreciation		92,000			66,500
Net property, plant, and equipment		184,000			199,500
Total assets	$	463,000		$	494,800
Accounts payable	$	60,800		$	108,000
Income taxes payable		47,200			62,800
Bonds payable		114,000			95,000
Common stock		133,000			114,000
Retained earnings		108,000			115,000
Total liabilities and stockholders equity	$	463,000		$	494,800

During the year, Ravenna paid a $11,400 cash dividend and it sold a piece of equipment for $5,700 that had originally cost $13,200 and had accumulated depreciation of $8,800. 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-b. What does this adjustment represent?

10. a Would the operating activities section of the companys statement of cash flows contain an adjustment for a gain or a loss? What would be the amount and direction (+ or ) of the adjustment?

10.b What is the amount of net cash provided by (used in) operating activities in the companys statement of cash flows?

11.a What is the amount of gross cash outflows reported in the investing section of the companys statement of cash flows?

11.b What is the companys net cash provided by (used in) investing activities?

14. What is the amount of gross cash inflows reported in the financing section of the companys statement of cash flows?

15. What is the companys net cash provided by (used in) financing activities?