Description: Lehigh Jeans Income statement (select data) For the year ended Dec 31 2023 Sales revenue 18,000 Interest revenue 350 Operating expenses: Depreciation1,600 R&D200 Wages1,500 Gain (loss) on sale of equipment170 Gain(loss) on sale of land -120 Gain on sale of investments300 Lehigh Jeans Comparative Balance SheetsAs of Dec 31 20222023 20222023Current assets: Liabilities Cash6,88511,555Accounts payable (inventory)1,225 Accounts receivable (A/R)2,5504,500Unearned revenue3,5003300Inventory3,5003,150Wages payable2,5003,100Prepaid insurance (PE)600800Notes payable3,4503,400Interest receivable 200315Loan payable3,500 Dividend receivable0600 Total current assets13,73520,920Total liabilities14,17517,375Non-current assets: PPE: Stockholders' equity Equipment12,600 CS3,500 less A/D Equipment4,200 APIC4,960 Land4,500 RE5,500 Investment1,500 Total assets28,13535,670Total liabilities and SE28,13535,670 Solve for letter a. and letter b. please a. Lehigh JeansCash flow statementFor the Year ended Dec 31, 2023Direct method Cash received from customers Cash paid for operating expenses Net cash from operating activities Net cash flows from investing activities Net cash from investing activities Net cash flows from Financing activities Net cash from financing activities Net change in cash Cash, Jan 1, 2022 Cash, Dec 31, 2023 b. Indirect method (operating section) NI Adjustment for non-cash expenses: Adjustment for non-operating gain/loss: Changes in operating assets and liabilities: Net cash from operating activities When you guys solve for letters a. and letters b. can you give a description of how you got each of the numbers for each account? Thank you