B. Statement of Cash Flows Using Direct Method Mr. Harry Wesley established his own service company. He invested 2,000,000 to open the business and has purchased some computer equipment worth 120,000 and office furniture worth 80,000. During the year, 500,000 revenues were earned, 200,000 of which were on account. Salaries paid to employees amounted to 150,000, office rent payment is 40,000, and utilities paid amounted to 30,000. Receivables collected amounted to 70,000. The owner withdrew 100,000 for a personal emergency. At the time when the carrying value of the furniture was 70,000, Jon Snow sold it for 75,000 cash. 1. How much is the entity's cash flow from operating activities? 2. How much is the entity's cash flow from investing activities? 3. How much is the entity's cash flow from financing activities? 4. How much is the cash balance at the end of the year? 5. Prepare the entity's statement of cash flows