Question $2(10$ points$)$: The Fred Proffet Company has been in the contract food service management business for many years. Their clients choose the Proffet Company for its creativity and attention to detail. Allisha McKay is the person that prepares the summary of sources and uses of funds for the Proffet Company. Help her do that by using the balance sheets that follow to calculate the companys sources and uses of funds, and answer the questions that follow. The Fred Proffet CompanyBalance SheetsDecember $31,2011$ and $201220112012$SourcesUsesAssets Current Assets Cash$336,000350,00014,000$ Marketable Securities$1,240,0001,200,00040,000$ Net Receivables$1,520,0001,550,00030,000$ Inventories$844,000830,00014,000$ Total Current Assets$3,940,0003,930,000$ Property and Equipment$1,200,0001,500,000300,000$ Less Accumulated Depreciation$420,000525,000105,000$ Net Property and Equipment$780,000975,000$ Total Assets$4,720,0004,905,000$ Liabilities and Owners Equity Current Liabilities Accounts Payable$584,000565,00019,000$ Notes Payable$134,00090,00044,000$ Other Current Liabilities$636,000300,000336,000$ Total Current Liabilities$1,354,000955,000$ Long$-$Term Liabilities Long$-$Term Debt$720,0001,100,000380,000$ Total Liabilities$2,074,0002,055,000$ Owners Equity Common Stock$300,000320,00020,000$ Paid in Capital$1,200,0001,280,00080,000$ Retained Earnings$1,146,0001,250,000104,000$ Total Owners Equity$2,646,0002,850,000$ Total Liabilities and Owner's Equity$4,720,0004,905,000$ Total Sources and Uses of Funds $743,000743,000$ Questions to Answer:a$.$ Did the change in Cash reflect a Source or a Use of funds? What was the amount of that change? b$.$ Did the change in Net Receivables reflect a Source or a Use of funds? What was the amount of that change? c$.$ Did the change in Notes Payable reflect a Source or a Use of funds? What was the amount of that change? d$.$ Did the change in Retained Earnings reflect a Source or a Use of funds? What was the amount of that change? e$.$ What was the total amount of Sources and Uses of Funds?