a. Wise Photography reported net income of $130,000 for 2020. Included in the income statement were depreciation expense of $6,000, amortization expense of $2,000, and a gain on disposal of equipment of plant assets of $3,600. Wise?s comparative balance sheets show the following balances.

Calculate net cash provided by operating activities for Wise Photography.

b. Alex Company reported the following information for 2020.

Additional information:1. Operating expenses include depreciation expense of $40,000.

2. Land was sold at its book value for cash.

3. Cash dividends of $85,000 were declared and paid in 2020.

4. Equipment with a cost of $166,000 was purchased for cash. Equipment with a cost of $51,000 and a book value of $36,000 was sold for $34,000 cash.

5. Bonds of $50,000 were redeemed at their face value for cash.

6. Common stock ($1 par) of $170,000 was issued for cash.

Use this information to prepare a statement of cash flows using the indirect method.

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12/31/19 12/31/20 Accounts receivable $27,000 $21,000 Accounts payable 6,000 9,200 Alex Company Comparative Balance Sheets December 31 Assets 2020 2019 Change Increase/Decrease $ $ 23,000 Increase 36,000 Cash 59,000 Accounts receivable 62,000 22,000 40,000 Increase Inventory 44,000 -0- 44,000 Increase Prepaid expenses 6,000 4,000 2,000 Increase Land 55,000 70,000 15,000 Decrease Buildings Accumulated depreciation- buildings 200,000 200,000 -0- (21,000) (14,000) 7,000 Increase