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 & cash equivalents $ 48,000 $ 57,000 Accounts receivable 41,000 44,000 Inventory 55,000 50,000 Total current assets 144,000 151,000 Property, plant, and equipment 150,000 140,000 Less accumulated depreciation 50,000 35,000 Net property, plant, and equipment 100,000 105,000 Total assets $ 244,000 $ 256,000 Accounts payable $ 32,000 $ 57,000 Income taxes payable 25,000 28,000 Bonds payable 60,000 50,000 Common stock 70,000 60,000 Retained earnings 57,000 61,000 Total liabilities and stockholders equity $ 244,000 $ 256,000 During the year, Ravenna paid a $6,000 cash dividend and it sold a piece of equipment for $3,000 that had originally cost $6,000 and had accumulated depreciation of $4,000. The company did not retire any bonds or repurchase any of its own common stock during the year. 6-a. If the company debited cost of goods sold and credited inventory for $400,000 during the year, what is the total amount of inventory purchases recorded on the debit side of the Inventory T-account and the credit side of the Accounts Payable T-account? 6-b. What is the total amount of the debits recorded in the Accounts Payable T-account during the year? 6-c. What does the amount of these debits represent? 7-a. What is the combined amount and direction (+ or ) of the inventory and accounts payable adjustments to net income in the operating activities section of the statement of cash flows? 7-b. What does this amount represent? 8-a. If the company debited income tax expense and credited income taxes payable $700 during the year, what is the total amount of the debits recorded in the Income Taxes Payable account? 8-b. What does the amount of these debits represent? 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. 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