15) Exercise 5. (30 points) Income Statement and Balance Sheet for Protege Ltd. for the year ended December 31, 2018 are as follow: Protege Ltd Income Statement For the Year Ended December 31, 2018 $ Sales Revenue 1,450 Cost of goods sold 1,030 Gross margin 420 Operating expenses 420 Gross margin Operating expenses 110 Sales and administrative expenses 17 Depreciation expense 81 Other expenses Total operating expenses 208 Income before taxes 212 Income taxes 53 Net Income 159 Dividends paid 25 Increase in retained earnings 134 Total Questions: 15 Protege Lid. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 $ $ Assets 783 612 Cash and cash equivalents 456 448 Accounts receivable (net) 245 980 Inventory Land 1,450 1,300 Building 255 255 Accumulated depreciation, building -72 -55 Total assets 3,117 3,540 Liabilities and Stockholders' Equity Accounts payable 170 366 Total Questions: 15 Les and Stockholders' Equity 170 366 Accounts payable 574 735 Short-term pable 1,024 1.568 2.125 Suckholders' equity 145 145 Common stock 350 350 Paid-in capital in excess of par 854 Retained earnings 720 Total stockholders' equity 1549 1415 Total liabilities and stockholders' equity 3,117 3,540 Using the indirect method, calculate the following: a. Net cash flow from operating activities b. Net cash flow from investing activities c. Net cash flow from financing activities d. Check the cash ending balance for 2018