The income statement of Bingham Inc. for the year ended December 31, Year 2, reported the following condensed information: Service revenue $600,000 Operating expenses 360,000 Income from operations $240,000 Income tax expense 60,000 Net income $180,000 Bingham's balance sheet contained the following comparative data on December 31: Year 2 Year 1 Accounts receivable $50,000 $40,000 Accounts payable 35,000 50,000 Income taxes payable 6,000 3,000 Bingham has no depreciable assets. Accounts payable pertains to operating expenses. Required: Prepare the operating activities section of the statement of cash flows using the direct method. BINGHAM INC. Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities $ Cash payments: $ Net cash provided by operating activities

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?