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The Foundational 15 (Static) [LO13-1, LO13-2] [The following information applies to the questions displuyed below] Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash fiows. Its balance sheet for this year is as follows: During the year, Ravenina paid a $6,000 cash dividend and it sold a piece of equipment for $3,000 that had originally cost $6,000 and had accumulated depreciation of $4,000. The company did not retire any bonds or repurchase any of its own common stock during the year. Foundational 139 (Static) Total Liabilities and stackholders' equity During the year. Ravenna paid a $6,000 cash dividend and it sold a piece of equipment for $3,000 that had originally cost $6,000 and had accumulated depreciation of $4,000. The company did not retire any bonds or repurchase any of its own common stock during the year. Foundational 139 (Static) 9. What is the amount and direction (t or j of the income taxes payable adjustment to net income in the operating activities section of the statement of cash flows? 9.b. What does this adjustment represent? Complete this question by entering your answers in the tabs below. What is the amount and direction ( + of ) of the income taxes payable adjustment to net inceme in the operating activities soction of the statement of ash flows? common stock during the year. Foundational 13-9 (Static) 9-a. What is the amount and direction ( + or ) of the income taxes payable adjustment to net income in the operating activities section of the statement of cash flows? 9b. What does this adjustment reptesent? Complete this question by entering your answers in the tabs below. What does this adjustment represent