PART A) (15 MARKS)

Given the following data, answer the questions that follow. Income Statement For the Year Ended 12/31/Year 2

Net Sales	$1,500,000
Cost of goods sold	(800,000)
Cash operating expenses	(400,000)
Depreciation and amortization expense	(100,000)
Gain on sale of equipment	60,000
Net income	$260,000

Additional Information:

1. Increase in accounts receivable during Year 2	$40,000
2. Decrease in inventory during Year 2	30,000
3. Increase in accounts payable	44,000
4. Sale of old equipment for cash	130,000
5. Dividends declared - $90,000; Dividends paid	80,000
6. New building acquired by issuing common shares	84,000
7. Sold bonds for cash - proceeds of	150,000

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?

Q2 Part B) -

Given the following data: Income Statement For the Year Ended Dec. 31, 2019

Net sales	$750,000
Cost of goods sold	(400,000)
Cash operating expenses	(200,000)
Depreciation and amortization expense	(50,000)
Gain on sale of equipment	30,000
Net income	$130,000

Additional information: 1. Increase in accounts receivable during 2011 - $25,000 2. Decrease in inventory during 2011 - $13,000 3. Decrease in accounts payable during 2001 - $28,000 4. Sale of old equipment for cash - $65,000 5. Dividends declared - $45,000; dividends paid - $40,000 6. New building acquired by issuing common shares - $42,000 7. Sold bonds for cash - proceeds of $75,000 What was net cash inflow (outflow) from operating activities during 2019?