2010 2011 Net sales $69,400 $78,200 Cost of goods sold $45,000 $50,200 Depreciation $5,100 $6,100 Net Income $13,000 $14,200 Finished goods inventory $3,900 $2,900 Accounts receivable $5,700 $8,700 Accounts payable $3,900 $4,400 Net fixed assets $40,400 $48,200 Year end cash balance $8,600 $13,500 ...

Solution 1cash collection from sales Beginning receivable ...

2010 2011 Net sales $69,400 $78,200 Cost of goods sold $45,000 $50,200 Depreciation $5,100 $6,100 Net Income

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Question:

2010	2011
Net sales	$69,400	$78,200
Cost of goods sold	$45,000	$50,200
Depreciation	$5,100	$6,100
Net Income	$13,000	$14,200
Finished goods inventory	$3,900	$2,900
Accounts receivable	$5,700	$8,700
Accounts payable	$3,900	$4,400
Net fixed assets	$40,400	$48,200
Year-end cash balance	$8,600	$13,500

1. During 2011 how much cash did Wicked Good Cupcakes collect from sales

2. During 2011 what was the cost of goods produced by the company?

3. Assuming that Wicked Good Cupcakes neither sold/salvaged assets during the year, what were the capital expenses during 2011?

4. Assuming that there were no financing cash flows during 2011, using the information from above, what was Wicked Good Cupcake’s cash flow from operations in 2011?