The comparative balance sheet for Mott Company appears below: The income statement for the year is as follows: MOTT COMPANY Income Statement Land costing $15,000 was acquired with cash and subsequently sold for $12,500 cash. Buildings costing $12,000 was purchased. Instructions 1. Prepare a statement of operating cash flows for the year ended December 31,2008 under the indirect method and the direct method 2. Calculate the amount of money realized from the sale of the building 3. What were the dividends paid in cash? Financial Accounting Sample exam Fall 2019 Cash flows from operating activities Net income. Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense Decrease in accounts receivable Increase in inventory. Decrease in prepaid expenses. Decrease in accounts payable Loss on sale of land. Net cash provided by operating activities \begin{tabular}{|l|l|l|l|} \hline Income statement Line & Adjustment & Total & Cash Flow Statement Line \\ \hline Revenue 280,000 & +2000 & 282,000 & Cash From Customers \\ \hline COGS 184,000 & 3000,8000 & (178,000) & Cash to suppliers \\ \hline Operating Expenses 42,300 & 1000 & (11,300) & Cash Op. Exp (paid to employees) \\ \hline Depreciation 3,000 & & Cash paid for Depreciation \\ \hline Loss on Sale of Equipment & & Cash obtained from sale \\ \hline Interest Expense 1,200 & & Cash Interest (paid to Financiers) \\ \hline Tax Expense 9,000 & & Cash Taxes (paid to Govt) \\ \hline Cash From Operations & & & \\ \hline \end{tabular}