The following items relate to the preparation of a statement of cash flows:
|
2006 |
2005 |
2006 |
||
|
Cash |
$150,000 |
$100,000 |
Net sales |
$3,200,000 |
|
AR–net |
420,000 |
290,000 |
CGS |
(2,500,000) |
|
Merchandise inventory |
330,000 |
210,000 |
Expenses |
(500,000) |
|
AP |
265,000 |
220,000 |
Net income |
$ 200,000 |