Sales revenue LIFO $89,000 37,000 Cost of goods sold Operating expenses (including depreciation) Depreciation Cash paid for inventory purchases FIFO $89,000 29,000 27,000 10,000 20,750 27,000 10,000 20,750 Determine net income under each approach. Assume a 30% tax rate. LIFO FIFO Net incomes $ LINK TO TEXT Determine net cash provided by operating activities under each approach. Assume that all sales were on a cash basis and that income taxes and operating expenses, other than depreciation, were on a cash basis. LIFO FIFO Net cash provided by operating activities LINK TO TEXT Calculate the quality of earnings ratio under each approach. (Round answers to 2 decimal places, e.g. 5.15.) LIFO FIFO Quality of earnings ratio