This question (Direct Method) and the next (Indirect Method) relate to calculations and presentation of cash flow statements for Jason Ltd for year ended June 30, 2020. The Income Statement of Jason Ltd. for the year ended June 30, 2020 is presented below: Sales 450,000 Less Cost of sales 300.000 150,000 Gross profit Add, Other income 5.000 Gain on sale of equipment 155,000 60.000 Less, Operating expenses Net operating Profit 95,000 The following additional information is available: O o Inventory increased from $75,000 to $90,000 during the year. o Accounts receivable decreased from $130,000 to $120,000 during the year. o Accounts payable increased from $100,000 to $120,000 during the year. Prepaid insurance increased from $2,500 to $5,000 during the year. Equipment increased from $25,000 to $30,000 during the year. o Accumulated depreciation on equipment increased from $10,000 to $15,000 during the year. o Old equipment with an original cost of $10,000 and accumulated depreciation of $2,500 was sold during the year. o Operating expenses of $60,000 included depreciation expense of $7,500. o Retained earnings increased from $70,000 to $115,000 during the year. o All inventory sales and purchases are on credit. Required: Calculate the following items that would appear in the Statement of Cash Flows for the year ended June 30, 2020, using the DIRECT method. (9 marks) Instructions: - When entering amounts, use numbers only - no spaces, no dollar signs, no full stops, no dots, no decimal separators, no symbols, no special characters, e.g. enter $2,000 as 2000 - Cash inflows should be positive integers, whereas cash flows should be negative in brackets - eg. cash payment outflow of $2,000 enter as (2000) a) Cash receipts from customers: $ b) Cash paid to suppliers: $ (assuming credit purchases of inventory was $315,000) c) Cash paid for other expenses $ d) Cash paid for dividends: $ e) Cash proceeds from sale of the old equipment: $ f) Cash paid for the new equipment: $