The information on the first picture and half of the second are there to help answer questions 18-20, can you go step by step on how to get the answers for questions 18-20 and where each number came from (income statement or balance sheet)

Renfro Mining Co. has recently decided to go public and has hired you as an independent CPA One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Renfro Mining Co. for 2004 and 2003 are provided below. BALANCE SHEETS Cash Accounts receivable Merchandise inventory Property, plant and equipment Less accumulated depreciation 12/31/04 $153,000 135,000 144,000 12131/03 $ 72,000 81,000 180,000 2 (120,000) 108,000 1 $360,000 114000 $579,000 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $ 6 36,000 47 132 81,000 90,000 1,000 INCOME STATEMENT For the Year Ended December 31, 2004 $3,150,000 Sales Cost of sales Gross profit Selling expenses Administrative expenses Income from operations Interest expense Income before taxes Income taxes Net income 2,682,000 468,000 $225,000 72 171,000 144,000 36,000 S 108.000 The following additional data were provided: 1. Dividends for the year 2004 were $72,000. 2. During the ahe ear, equipment was sold for $90,000. This equipment cost $132,000 originally loss on sale was incorrectly and had a book value of $108,000 at the time of sale. The charged to cost of sales. 3. All depreciation expense is in the selling expense category question(s) relate(s) to a statement of cash flows (direct method) for the year ended December 31, 2004, for Renfro Mining Company 18. The net cash provided (used) by investing activities is a. $(132,000). b. $18,000 $90,000 d. $(108,000). [you should have COA $153,000: CIA $90,000: CFA ($162,000)1 19. Under the direct method, the total taxes paid is a. $36,000. b. $15,000. c. $21,000 d) $51,000. g activities i 20. The net cash provided (used) by cB A a. $(90,000). b. $18,000 $(162,000) $72,000 $72000-K December 31, 2003. Insurance expense was $12,000 for 2004 and $9,000 for 2003. Wha tr for insurance would be reported in Vance's 2004 net cas 21. Vance Co.'s prepaid insurance was/$30,000/at December 31, 2004 and $15,000 at