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Wacky Entertainment Inc. is in the middle a copyright lawsuit. Next month, the company anticipates winning $500,000 in the settlement. How should Wacky Entertainment record the $500,000 this month? SELECT ONLY ONE As a gain on the income statement As a liability on the income statement As revenue on the income statement As a footnote of the financial statements It should not be reportedIn the statement below, which activity is miscategorized? Cash Flow Statement Operations Cash receipts from customers Cash paid for 250,000 Inventory purchases Purchase of property and equipment (59,000) 75,000 116,000 Net Cash Flow from Operations Investing Activities Cash receipts from collection of principal on loans Cash paid for making loans to other entities 230,000 (25,000 205,000 Net Cash Flow from Investing Activities Financing Activities Cash receipts from issuance of stock Cash paid for 32,000 Repayment of loans Dividends (31,000) 5,000 (4 Net Cash Flow from Financing Activities Net Increase in Cash 317,000Please show work

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