Our final forum of the year-->Forum F14 explores the Statement of Cash Flows. Please carefully and thoughtfully respond to each of the following ques regarding this important financial statement. For question no. 4 please show your computations and prepare well-labeled computations. 1--The Malik Company purchased machinery by issuing a long-term note payable. Should Malik Co. report this transaction on the Statement of Cash Fle If so, how and where? If not, why not? 2--Which method does the Financial Accounting Standards Board (FASB) prefers for reporting cash flows from operating activities? Which method of reporting cash flows from operating activities is most popular with US corporations? Why do you think this disparity between the FASB and the busines community exists? Which method do you personally prefer and why? 3-Describe the type of activities that should be reported under the operating activities section of the Statement of Cash Flows (SoCF). What type of activities should be reported under the investing activities? What type of activities should be included and reported on under the financing activities sections of the SOCF? 4--Chichester Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Chichester Company Income Statement Year Ended December 31, 2025 Sales Revenue $250,000 2,600 Interest Revenue Gain on Sale of Plant Assets 6,000 Total Revenues and Gains Cost of Goods Sold 119,000 Salary Expense 41,000 Depreciation Expense 12,000 Other Operating Expenses 21,000 Interest Expense 1,700 Income Tax Expense 5,400 Total Expenses 200,100 Net Income (Loss) $58,500 Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $258,600 4--Chichester Company uses the indirect method to prepare the statement of cash flows. Refer to the follow Chichester Company Income Statement Year Ended December 31, 2025 Sales Revenue $250,000 2,600 Interest Revenue Gain on Sale of Plant Assets 6,000 Total Revenues and Gains Cost of Goods Sold 119,000 Salary Expense 41,000 Depreciation Expense 12,000 Other Operating Expenses 21,000 Interest Expense 1,700 Income Tax Expense 5,400 Total Expenses 200,100 Net Income (Loss) $58,500 Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $21,000. 2. Current liabilities decreased by $1,300. Compute the net cash provided by (used for) operating activities. $258,600