Given the following data,answer the questions that follow. Income Statement
For Year Ended 12/31/Y ear 2 $$\begin{array} {| l | r| }
\hline \text { Net Sales..................... } & \$ 1,500,000 \
\hline \text { Cost of goods sold........... } & ( 800,000 ) \
\hline \text { Cash operating expenses..... } & ( 400,000 ) \
\hline \text { Depreciation and amortization expense............... } & ( 100,000 ) \
\hline \text { Gain on sale of equipment.... } & \underline { 60,000 } \
\hline \text { Net income.............. } & \$ 260,000 \
\hline
\end{array}$$ Additional Information: 1) What was cash from customers during year 2?
2) What was cash paid to suppliers during year 2?
3) What was net cash inflow from operating activities during year 2?
4) What was net cash inflow (outflow) from investing activities during year 2?
5) What was net cash inflow (outflow) from financing activities during year 2?

Question

Given the following data,answer the questions that follow. Income Statement
For Year Ended 12/31/Y ear 2 $$\begin{array} {| l | r| } 
\hline \text { Net Sales..................... } & \$ 1,500,000 \
\hline \text { Cost of goods sold........... } & ( 800,000 ) \
\hline \text { Cash operating expenses..... } & ( 400,000 ) \
\hline \text { Depreciation and amortization expense............... } & ( 100,000 ) \
\hline \text { Gain on sale of equipment.... } & \underline { 60,000 } \
\hline \text { Net income.............. } & \$ 260,000 \
\hline
\end{array}$$ Additional Information:  1) What was cash from customers during year 2?
2) What was cash paid to suppliers during year 2?
3) What was net cash inflow from operating activities during year 2?
4) What was net cash inflow (outflow) from investing activities during year 2?
5) What was net cash inflow (outflow) from financing activities during year 2?

Quizplus · Accepted Answer

The Answer of Given the following data,answer the questions that follow. Income Statement
For Year Ended 12/31/Y ear 2 $$\begin{array} {| l | r| } 
\hline \text { Net Sales..................... } & \$ 1,500,000 \
\hline \text { Cost of goods sold........... } & ( 800,000 ) \
\hline \text { Cash operating expenses..... } & ( 400,000 ) \
\hline \text { Depreciation and amortization expense............... } & ( 100,000 ) \
\hline \text { Gain on sale of equipment.... } & \underline { 60,000 } \
\hline \text { Net income.............. } & \$ 260,000 \
\hline
\end{array}$$ Additional Information:  1) What was cash from customers during year 2?
2) What was cash paid to suppliers during year 2?
3) What was net cash inflow from operating activities during year 2?
4) What was net cash inflow (outflow) from investing activities during year 2?
5) What was net cash inflow (outflow) from financing activities during year 2?

Given the Following Data,answer the Questions That Follow Additional Information: 1) What Was Cash from Customers During