The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company uses accrual basis accounting. Advertising Revenue Cash Accounts Receivable Interest Expense Accounts Payable Operating Expenses Deferred Revenue Equipment Income Tax Expense $ 46,482 41,516 7,296 2,299 5,000 37,460 1,178 18,648 2,326 The following activities occurred in 2019: 1. Performed advertising services on account, $55,000. 2. Received cash payments on account, $10,400. 3. Received deposits from customers for advertising services to be performed in 2020, $2,500. 4. Made payments to suppliers on account, $5,000. 5. Incurred $45,000 of operating expenses $39,000 was paid in cash and $6,000 was on account and unpaid as of the end of the year. What is the amount of revenue that will be reported on the income statement for the year ended December 31, 2019? Multiple Choice $57,500 O $50.000 $55,000 $39,000 The Statement of Cash Flows for the current year contained the following: Cash received from customers Cash used for purchase of equipment Cash received for stock issuance Cash used for payments to suppliers & employees Cash dividends paid to stockholders Cash borrowed from bank $10,000 40,000 30,000 5,000 1,000 20,000 The change in cash for the current year was an increase of $14,000. What was the amount of cash flows from (used in) investing activities? Multiple Choice ($40,000) ($10,000) ($1.000) $10,000