Please show work Extracted below are information from the Scarlett Knight Corporation's Statement of...
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Extracted below are information from the Scarlett Knight Corporation's Statement of Cash Flow prepared as of the year-end 2021. Use the below information gathered to compute the cash flows from operating activities. Please show how you arrived at your final answer. Payment of salaries and wages $38,000.00 Collection of dividend revenue $5,000.00 Depreciation $24,000.00 Payment of interest $17,000 Increase in current liabilities $11,000.00 Cash sales $50,000.00 Increase in current assets other than cash $15,000.00 Gain on sale of land $7,000.00 Payment of dividends $3,000.00 Land acquisition $29,000.00 Collection of accounts receivable $60,000.00 Payment of accounts payable $50,000.00 Net Income $26,000.00 Payment of income tax $11,000.00 A) $6,500.00 B) $7,000.00 C) ($6,000.00) D) ($60,000.00) E) $65,000.00
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