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Use the information below to answer the following questions about the Canary Cruises Corporation. The Canary Cruises Corporation Income Statement Accounts for the year ending December 31, 2017 Account Balance Cost of goods sold $145,000 Interest expense $79,000 Taxes $57,000 Revenue $736,000 Selling, general, and $93,000 administrative expenses Depreciation $126,000 Refer to the Canary Cruises Corporation Corporation Income Statement Accounts What is the operating cash flow for the Canary Cruises Corporation for 2017? A) $632,000 Net income is OA) the cash flow from the operations of the company during the period Shy B) not cash flow C) earnings before interest and taxes D) the increase or decrease in cash flow for the period Which of the statements below is FALSE? OA) OB) Typically, income statements are prepared quarterly and annually for distribution outside the company, but usually monthly for internal managers. The balance sheet reports the performance of the firm over the past period. It summarizes and categorizes a company's revenues and expenses for that period. O c) The income statement summaries and categorizes a company's revenues and expenses for that period. D) The income statement begins with revenue and subtracts various operating expenses until arriving at Earnings Before Interest and Taxes (EBIT)