Suppose the income statement for Goggle Company reports $70 of net income, after deducting depreciation of 535. The company bought equipment costing $60 and obtained a long-term bank loon for $60. The company's comparative balance sheet at December 31. indicates the following Required: 1. Calculate the change in each balance sheet account, and indicate whether each account relates to operating investing, and financing activities (Decreases should be indicated with minus sign.) Cash Change Type 170 Cash 100 Operating (125) Operating 60 Investing (35) Operating Accounts Receivable Inventory Equipment Accumulated Depreciation Total Wages Payable Long-Term Debt Contributed Capital Retained Earnings Total Previous Current Year Year S 35 $ 205 75 175 260 135 500 550 (45) (80) s 825 995 $ 10 $ 50 445 505 10 10 360 430 $ 825 $ 995 40 Operating 60 Financing Financing 70 | Financing 70 Statement of Cash Flows For the Year Ended December 31 Cash flows provided by operating activities Net income Adjustments to reconcile net income to cash provided by operating activities Depreciation Changes in current assets and current liabilities Increase in accounts receivable Decrease in inventory Increase in wages payable 35 (100) 125 40 170 340 Cash flows used in investing activities 0 Cash flows provided by financing activities 0 $ 0 Net change in cash Cash, beginning of year Cash, end of year Next BE Drev 3 of 5