a. PK Photography reported net income of $100,000 for 2022. Included in the income statement were depreciation expense of $6,300, patent amortization expense of $4,000, and a gain on disposal of plant assets of $3,600. PK’s comparative balance sheets show the following balances. 

Calculate net cash provided by operating activities for PK Photography. 

b. Alex Company reported the following information for 2022. 

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 2022. 

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 fl ows using the indirect method

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12/31/21 12/31/22 Accounts receivable Accounts payable $21,000 9,200 $27,000 6,000 Alex Company Comparative Balance Sheets December 31 Change Increase/Decrease Assets 2022 2021 Cash $ 59,000 $ 36,000 $ 23,000 Increase Accounts receivable 62,000 22,000 40,000 Increase Inventory Prepaid expenses 44,000 -0- 44,000 Increase 6,000 4,000 70,000 2,000 Increase Land 55,000 15,000 Decrease Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 200,000 200,000 -0- (21,000) (14,000) 7,000 Increase 183,000 68,000 115,000 Increase (10,000) (28,000) $560,000 $376,000 18,000 Increase Totals Liabilities and Stockholders' Equity $ 43,000 $ 40,000 $ 3,000 Increase Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings -0- 10,000 10,000 Decrease 100,000 150,000 50,000 Decrease 230,000 60,000 170,000 Increase 187,000 116,000 71,000 Increase $560,000 Totals $376,000