Use the following Baycraft Ltd. information for questions 7 through 10. Net Income $47,000 Decrease in Inventories Increase in Accounts Payable Depreciation Expense Payment of Dividends Increase in Accounts Receivable Collection of Notes Receivable S 2,000 8,000 7,000 2,000 Acquisition of Equipment Sale of Shares 24,000 4,000 3,000 6,000 Payment of Long-Term Debt Proceeds from Sale of Land 9,000 Loss on Sale of Land 12,000 36,000 7. Under the indirect method, net cash provided by operating activities would be a. $72,000. b. $76,000. c. $83,000. d. $84,000. Net cash provided by (used for) investing activities would be $18,000. b. $(12,000). c. $(6,000). d. $24,000. 8. a. 9. Net cash provided by (used for) financing activities would be $4,000 b. $2,000. c. $(8,000). d. $(11,000). a. 10. The cost of land must have been a. $30,000. b. $48,000 $54,000 d. Cannot be determined from the data given. c