Remaining Time: 59 minutes, 48 seconds * Question Completion Status: T 2 S 7 9 10 Question 7 The following comparative statement of financial position for Prett Co. is given for the financial periods 2019 and 2020: PPE 2020 $430,000 2019 $395,000 Accumulated depreciation of PPE 185,000 175,000 Copyrights 55,000 65,000 Receivables 23,000 15,000 Inventory 65,000 82,000 Prepaid expenses 70,000 62,000 Cash 182.000 71.000 $640,000 $515.000 Capital- preferred shares $42,000 23,000 Premium on preferred shares 140,000 160,000 Common stock 96,000 56,000 Retained earnings 45,000 34,000 Bond payable $7,000 95,000 55,000 165.000 187.000 $640,000 $515,000 The income statement for 2020 is as follows: Net sales Cost of goods sold Gross profit Accounts payable Accrued liabilities $950,000 492,000 458.000 DELL Less than ha Blackboard 3 X B Remaining Time: 59 minutes, 42 seconds Question Completion Status: 2 5 The income statement for 2020 is as follows: Net sales Cost of goods sold Gross profit Operating expenses Net income Additional information: Accrued liabilities ROSAKE $640,000 $950,000 492.000 458,000 190.000 $268.000 The operating expenses include the depreciation expenses and amortization expenses Required: Compute the following using the Direct Method (Show your calculations). 1. How much is the cash received from customers? 2. How much is the cash paid to suppliers? 3. How much is the operating expenses paid? 4. How much is the Net cash provided by operating activities? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 187 $515,000 v 10pt EVE A 2 P > INSSICAL Less than hul of the tire rem I o wo