eyplus.com/courses/25927/assignments Question 2 bort View Policies Current Attempt in Progress The following comparative information is available for Monty Corp. for 2022. Sales revenue Cost of goods sold Operating expenses (including depreciation) Depreciation Cash paid for inventory purchases LIFO FIFO $79,000 $79,000 42,000 35,000 29,000 29,000 9,000 9,000 39,800 39,800 Determine net income under each approach. Assume a 30% tax rate. FIFO Net income $ Determine net cash provided by operating activities under each approach. Assume that a operating expenses, other than depreciation, were on a cash basis