The following account balances relate to the equity accounts of Choco Co. at year-end. 2020 (RM) 2019 (RM) Share capital-ordinary, 10,500 and 10,000 shares, respectively, for 2020 and 2019 Share capital-preference, 5,000 shares Retained earnings 155,000 125,000 300,000 130,000 125,000 250,000 A small share dividend was declared and issued in 2020. The market value of the shares was RM11,200. Cash dividends were RM16,000 in both 2020 and 2019. The ordinary shares have no par or stated value. Required: (a) What was the amount of net income reported by Choco Co. in 2020? (b) Determine the amounts of any cash inflows related to the ordinary shares and dividend accounts in 2020. Indicate where each of the cash inflows or outflows identified in (b) would be classified on the statement of cash flows. The income statement of ZQ Company is presented here. RM 7,500,000 ZQ Company Income Statement For the Year Ended 30 November, 2020 RM Sales revenue Cost of goods sold Beginning inventory 1,900,000 Purchases 4,400,000 Goods available for sale 6,300,000 Ending inventory 1,400,000 Total cost of goods sold Gross profit Operating expenses Net income 4,900,000 2,600,000 1,150,000 1,450,000 Additional information: 1. Accounts receivable increased RM200,000 during the year, and inventory decreased RM500,000. 2. Prepaid expenses increased RM175,000 during the year. 3. Accounts payable to suppliers of merchandise decreased RM340,000 during the year. 4. Accrued expenses payable decreased RM105,000 during the year. 5. Operating expenses include depreciation expense of RM85,000. Required: Prepare the operating activities section of the statement of cash flows for the year ended 30 November, 2020, for ZQ Company, using the indirect method. Prepare the operating activities section of the statement of cash flows for the year ended 30 November, 2020, for ZQ Company, using the direct method