Use the following to answer questions 1-4: The financial statements of Wines, Inc., provide the following information for the current year: Dec.31 Jan.1 Accounts receivable....................................................... $210,000 $180,000 Inventory....................................................................... 200,000 190,000 Prepaid expenses............................................................ 14,000 10,000 Accounts payable (for merchandise)................................ 176,000 161,000 Accrued expenses payable.............................................. 13,000 19,000 Net sales........................................................................ 2,900,000 Cost of goods sold.......................................................... 1,500,000 Operating expenses (including depreciation of $40,000)..... 300,000 1. Refer to the above data. Compute the amount of cash received from customers during the current year. A) $2,900,000. B) $2,690,000. C) $2,870,000. D) Some other amount. Question 2 2. Refer to the above data. Compute the amount of Wine's cash payments for purchases of merchandise during the current year. Answer A) $1,500,000. B) $1,495,000. C) $1,505,000. D) Some other amount. Question 3 3. Refer to the above data. Compute the amount of Wine's cash payments for operating expenses. Answer A) $260,000. B) $270,000 C) $250,000. D) Some other amount. Question 4 4. Refer to the above data. Wine's net cash flow from operating activities for the current year is: Answer A) $1,105,000. B) $1,375,000. C) $1,495,000. D) Some other amount. Question 6 6. In a statement of cash flows, payments of dividends are classified as: Answer A) Operating activities. B) Financing activities. C) Investing activities. D) Costs and Expenses. Answer A) Non-cash expenses such as depreciation. differences between recognizing revenue and expenses and their cash flows. C) Gains and losses included in net income but classified as investing or financing activities.. D) All of the above will cause a difference between net income and cash flows.