--/1 Question 5 View Policies Current Attempt in Progress He Corporation had the following transactions: Complete the table below indicating whether each transaction will increase, decrease, or have no effect on (a) net income and (b) cash provided (used) by operating activities. The first one has been done for you as an example. (a) (b) Cash Provided (Used) by Operating Activities Net income 1. Increase Increase Sold inventory for cash at a higher price than its cost. 2. Collected cash in advance from a customer for a service to be provided in the future. 3. Purchased inventory on account in a perpetual inventory system. 4 Declared and paid dividends. 5. Recorded and paid salaries. 6. Recorded income tax payable. 7 Accrued interest receivable. 8 Recorded depreciation expense. 9. Paid an amount owing on account to a supplier. 10. Collected an amount owing from a customer. e Textbook and Media Increase Decrease No Effect