[The following information applies to the questions displayed below. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows Ending Balance Beginning Balance Cash and cash equivalent:s Accounts receivable Inventory Total current assets Property, plant, and equipment $105,400 $ 126,658 90,200 102,500 319, 350 287,00e 71,750 215, 250 $ 499,500 534,60e 83,700 112,400 301,500 297,00e 99,000 198,000 Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 65,600 116,500e 68,600 102,500 123,000 124,000 $ 499,500 $ 534,608 50,900 123,000 143,500 116, 500 During the year, Ravenna paid a $12,300 cash dividend and it sold a piece of equipment for $6,150 that had originally cost $14,400 and had accumulated depreciation of $9,600. The company did not retire any bonds or repurchase any of its own common stock during the year 2. What net income would the company include on its statement of cash flows? Net income 3. How much depreciation would the company add to net income on its statement of cash flows? Depreciation 4-a. If the company debited Accounts Receivable and credited Sales for $1,230,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? 4-b. What does the amount of these credits represent? Complete this question by entering your answers in the tabs below Req 4A Req 4B If the company debited Accounts Receivable and credited Sales for $1,230,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? Amount of credits recorded 4-a. If the company debited Accounts Receivable and credited Sales for $1,230,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? 4-b. What does the amount of these credits represent? Complete this question by entering your answers in the tabs below. Req 4A Req 4B What does the amount of these credits represent? Cash collections from customers OPayment to suppliers OCredit sales OCash sales OTotal sales 5-a. What is the amount and direction +or- of the accounts receivable adjustment to net income in the operating activities section of the statement of cash flows? 5-b. What does this adjustment represent? Complete this question by entering your answers in the tabs below Req 5A Req 5B What is the amount and direction +or -) of the accounts receivable adjustment to net income in the operating activities section of the statement of cash flows? Amount 5-a. What is the amount and direction+or -) of the accounts receivable adjustment to net income in the operating activities section of the statement of cash flows? 5-b. What does this adjustment represent? Complete this question by entering your answers in the tabs below Req 5A Req 5B What does this adjustment represent? Cash collected from customers> Credit sales Cash collected from customers Cash collected