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 assets Ending Balance $ 52,800 45, 100 60,500 158, 400 165,000 55,000 110,000 $ 268,400 Beginning Balance $ 62,700 48,400 55,000 166, 100 154,000 38,500 115,500 $ 281, 600 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 35,200 27,500 66,000 77,000 62,700 $ 268,400 $ 62,700 30,900 55,000 66,000 67,000 $ 281,600 During the year, Ravenna paid a $6,600 cash dividend and it sold a piece of equipment for $3,300 that had originally cost $6,600 and had accumulated depreciation of $4,400. The company did not retire any bonds or repurchase any of its own common stock during the year. Required: 1. What is the amount f the net increase or decrease in cash and cash equivalents that would be shown on the company's statement of cash flows? Net in cash and cash equivalents 16 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 assets Ending Balance $ 52,800 45, 100 60,500 158, 400 165,000 55,000 110,000 $ 268,400 Beginning Balance $ 62,700 48,400 55,000 166, 100 154,000 38,500 115,500 $ 281,600 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 35, 200 27,500 66,000 77,000 62,700 $ 268, 400 $ 62,700 30, 900 55,000 66,000 67,000 $ 281,600 During the year, Ravenna paid a $6,600 cash dividend and it sold a piece of equipment for $3,300 that had originally cost $6,600 and had accumulated depreciation of $4,400. The company did not retire any bonds or repurchase any of its own common stock during the year. 2. What net income would the company include on its statement of cash flows? Net income 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 assets Ending Balance $ 52,800 45, 100 60,500 158, 400 165,000 55,000 110,000 $ 268,400 Beginning Balance $ 62,700 48,400 55,000 166, 100 154,000 38,500 115,500 $281,600 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 35, 200 27,500 66,000 77,000 62,700 $ 268,400 $ 62,700 30,900 55,600 66,000 67,000 $ 281,600 During the year, Ravenna paid a $6,500 cash dividend and it sold a piece of equipment for $3,300 that had originally cost $6,600 and had accumulated depreciation of $4,400. The company did not retire any bonds or repurchase any of its own common stock during the year. 3. How much depreciation would the company add to net income on its statement of cash flows? Depreciation 18 During the year, Ravenna paid a $6,600 cash dividend and it sold a piece of equipment for $3,300 that had originally cost $6,600 and had accumulated depreciation of $4,400. The company did not retire any bonds or repurchase any of its own common stock during the year. 4-a. If the company debited Accounts Receivable and credited Sales for $660,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? 4-b. What does the amount of these credits represent? Complete this question by entering your answers in the tabs below. Req 4A Req 48 What does the amount of these credits represent? Cash collections from customers Payment to suppliers Credit sales Cash sales Total sales E esc