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Q1 Q2 Q1 Q2 Compute depreciation expense on the 1) Building and 2) equipment for 2018. Q3 (conceptual) 1. Describe the purpose of the statement of cash flow. 2. How many types of cash flows are there? What are they? 3. Define Operating cash flow and provide one example. 4. Define Investing cash flow and provide one example. 5. Define financing cash flow and provide one example. 6. What are the steps in preparing a statement of cash flow? 7. Briefly describe the direct method of calculating net cash flow from operating activities. 8. Briefly describe the indirect method of calculating net cash flow from operating activities. 9. What are the sources of information for preparing the statement of cash flow? Q1 Instruction: Prepare the operating section of the cash flow statement using the indirect method. account name sign +/- $amount Net cash flow from operating activities Net income Net Cash flow from operating activities<-enter your="" answer="" q2="" harlan="" mining="" co.="" has="" recently="" decided="" to="" go="" public="" and="" has="" hired="" you="" as="" an="" independent="" cpa.="" one="" statement="" that="" the="" enterprise="" is="" anxious="" to="" have="" prepared="" is="" a="" statement="" of="" cash="" flows.="" financial="" statements="" of="" harlan="" mining="" co.="" for="" 2019="" and="" 2018="" are="" provided="" below.="" balance="" sheets="" 12/31/19="" 12/31/18="" cash="" $408,000="" $192,000="" accounts="" receivable="" 360,000="" 216,000="" inventory="" 384,000="" 480,000="" property,="" plant="" and="" equipment="" $608,000="" $960,000="" less="" accumulated="" depreciation="" -320,000="" 288,000="" -304,000="" 656,000="" $1,440,000="" $1,544,000="" accounts="" payable="" $176,000="" $96,000="" income="" taxes="" payable="" 352,000="" 392,000="" bonds="" payable="" 360,000="" 600,000="" common="" stock="" 216,000="" 216,000="" retained="" earnings="" 336,000="" 240,000="" $1,440,000="" $1,544,000="" income="" statement="" for="" the="" year="" ended="" december="" 31,="" 2019="" sales="" revenue="" $8,400,000="" cost="" of="" sales="" 7,152,000="" gross="" profit="" 1,248,000="" selling="" expenses="" $600,000="" administrative="" expenses="" 192,000="" 792,000="" income="" from="" operations="" 456,000="" other="" losses="" 72,000="" income="" before="" taxes="" 384,000="" income="" taxes="" 96,000="" net="" income="" $288,000="" the="" following="" additional="" data="" were="" provided:="" 1="" dividends="" for="" the="" year="" 2019="" were="" $192,000.="" 2="" during="" the="" year,="" equipment="" was="" sold="" for="" $240,000.="" this="" equipment="" cost="" $352,000="" originally="" and="" had="" a="" book="" value="" of="" $288,000="" at="" the="" time="" of="" sale.="" 3="" depreciation="" expense,="" $80,000,="" is="" in="" the="" selling="" expense="" category.="" questions="" relate="" to="" a="" statement="" of="" cash="" flows="" (indirect="" method)="" for="" the="" year="" ended="" december="" 31st,="" 2019,="" for="" harlan="" mining="" company.="" calculate="" net="" cash="" provided="" by="" operating="" activities="" using="" the="" direct="" method="" a)="" cash="" received="" from="" customers=""><-enter your="" answer="" b)="" cash="" paid="" to="" purchase="" inventory=""><-enter your="" answer="" c)="" cash="" paid="" as="" selling&="" admin.="" expenses=""><-enter your="" answer="" d)="" cash="" paid="" as="" taxes=""><-enter your answer invalid sheet 82560006976000712000136000432000 135000 your="" answer="" invalid="" sheet="" 8256000="" 6976000="" 712000="" 136000="" 432000="">