$3)$ Transactions analysis question $(40$ points, $4$ points for each correct answer$)$

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The ending balance sheets for Bothaways, Inc., a merchandising firm, in $2020$ and $2019($the amount of the contra asset is in parentheses$)$ are:

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Balance Sheets

$2020$

$2019$

Assets:

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$$ Cash

$18$

$6$

$$ Accounts receivable

$22$

$14$

$$ Prepaid rent

$4$

$8$

$$ Inventory

$16$

$14$

$$ Gross Property, plant, and equipment

$100$

$100$

$$ Less Accumulated depreciation

$(50)$

$(40)$

$$ Net Property, plant, and equipment

$50$

$60$

$$ Total Assets

$110$

$102$

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$$

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Liabilities:

$$

$$

$($Trade$)$ Accounts payable

$18$

$20$

$$ Unearned sales revenue

$5$

$10$

$$ Wages payable

$30$

$20$

$$ Dividends payable

$3$

$5$

$$ Total liabilities

$56$

$55$

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Owners$$ equity:

$$

$$

$$ Contributed capital

$20$

$20$

$$ Retained earnings

$34$

$27$

$$ Total Owners$$ equity

$54$

$47$

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A partial income statement for Bothaways in $2020($the amounts of expenses are in parentheses$)$ is:

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Income Statement

$2020$

Sales revenue

$63$

Less Cost of goods sold

c$=?$

Less Wage expense

$(15)$

Less Rent expense

f$=?$

Less Depreciation expense

$?$

$$ Net income

$?$

$$

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A partial cash flow statement for Bothaways in $2020($the amounts of expenditures are in parentheses$)$ are:$$

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Cash Flow Statement

$2020$

Collections from customers

b$=?$

Less Payments to suppliers

$(25)$

Less Payments to employees

d$=?$

Less Payments for rent

$(5)$

$$ Operating cash flow

e$=?$

$$

$$

Less Dividend payments

$?$

$$ Financing cash flow

$?$

$$

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Net cash flow

a$=?$

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Required: Bothaways did not acquire any Property, plant, and equipment during $2020.$ All line items with non$-$zero values are presented on each of the financial statements. Answer the following questions.

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a$)$ What is net cash flow?

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b$)$ What are collections from customers?

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c$)$ What is cost of goods sold?

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d$)$ What are payments to employees?

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e$)$ What is operating cash flow?

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f$)$ What is rent expense?

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g$)$ What is depreciation expense?

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h$)$ What is net income?

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i$)$ What are dividends declared?

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j$)$ What are dividends paid?

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Extra Credit $(4$ points$)$: There are two distinct ways to solve for dividends paid in part j$.$ Calculate dividend paid the way other than the one you used above to solve for it$.$