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 and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Ending Balance 64,400 53,200 71,400 189,000 192,000 64,000 128,000 317,000 Beginning Balance 76,900 57,200 65,000 199, 100 182,000 45,500 136,500 335,600 $ $ Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 41,600 32,400 78,000 91,000 74,000 317,000 74,000 39,600 65,000 78,000 79,000 335,600 $ During the year, Ravenna paid a $7,800 cash dividend and it sold a piece of equipment for $3,900 that had originally cost $8,400 and had accumulated depreciation of $5,600. The company did not retire any bonds or repurchase any of its own common stock during the year. 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? Saved Total liabilities and stockholders' equity $ 317,000 $ 335,600 During the year, Ravenna paid a $7,800 cash dividend and it sold a piece of equipment for $3,900 that had originally cost! $8,400 and had accumulated depreciation of $5,600. The company did not retire any bonds or repurchase any of its own common stock during the year. 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? Complete this question by entering your answers in the tabs below. Req 7A Req 7B 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? Amount Re7A Req 7B > stockholders' equity $ 317,000 335,600 During the year, Ravenna paid a $7,800 cash dividend and it sold a piece of equipment for $3.900 that had a $8.400 and had accumulated depreciation of $5,600. The company did not retire any bonds or repurchase a common stock during the year. 7-a. What is the combined amount and direction (+ or -) of the inventory and accounts payable adjustments to net in operating activities coction of the statement of cash flows? 7-b. What does th Rea 7B t represent: Complete this question by entering your answers in the tabs below. Req 7A Req 7B What does this amount represent? Cash paid to suppliers > Purchases Cash paid to suppliers Cost of goods sold Total liabilities and stockholders' equity $ 317,000 $ 335,699 During the year, Ravenna paid a $7,800 cash dividend and it sold a piece of equipment for $3,900 that had originally cost $8.400 and had accumulated depreciation of $5,600. 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 se of the statement of cash flows? 9-b. What does this adjustment represent? Complete this question by entering your answers in the tabs below. Req 9A Req 9B 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? Amount Reg9A Req9B YOW/connect.html Saved i upeily, pidul, anu equipment Less accumulated depreciation Net property, plant, and equipment Total assets 192,00 64,000 128,000 317,000 102,00 45,500 136,500 335,600 $ $ Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 41,600 32,400 78,000 91,000 74,000 317,000 74,000 39,600 65,000 78,000 79,000 335,600 $ $ During the year, Ravenna paid a $7,800 cash dividend and it sold a piece of equipment for $3,900 that had originally cost $8,400 and had accumulated depreciation of $5,600. 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? $ Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Ending Balance 64,400 53,200 71,400 189,000 192,000 64,000 128,000 317,000 Beginning Balance 76,900 57,200 65,000 199, 100 182,000 45,500 136,500 335,600 $ $ $ Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 41,600 32,400 78,000 91,000 74,000 317,000 74,000 39,600 65,000 78,000 79,000 335,600 $ $ During the year, Ravenna paid a $7,800 cash dividend and it sold a piece of equipment for $3,900 that had originally cos! $8,400 and had accumulated depreciation of $5,600. The company did not retire any bonds or repurchase any of its ow! common stock during the year. 11. What is the amount of net cash provided by (used in) operating activities in the company's statement of cash flows Net cash operating activities