Question 1 (Total 20 marks) Jed on 31 Additional information: 1. Land purchase is for cash. 2. A building costing $89,000 with accumulated depreciation of $75,000 is sold for cash. 3. Accumulated depreciation is affected by depreciation expense and the sale of building. 4. Cash is received for issuing bonds and shares. 5. The balance of Retained earnings is affected by dividend payment and net profit. b. Provide 4 reasons why Nomad's net income is different from its net operating cash flows. (2 marks) c. Analyze the statement of cash flows prepared in part a. and comment on: i. the main reason(s) for the net cash flows from operating activities' positive (or negative) result and what Nomad Company should pay attention to or review. (3 marks) ii. the main reason(s) for the net cash flows from investing activities' positive (or negative) result and what Nomad Company should pay attention to or review