Question: please answer the quesiton and explain how you got that answer. thank you! On January 1, Year 1, ABC Merchandising Company was started. The company

please answer the quesiton and explain how you got that answer. thank you!

On January 1, Year 1, ABC Merchandising Company was started. The company experienced the following events during the first year of operation: 1. Started the business by issue common stock for $1,000cash. 2. Purchased $860 of inventory on account. 3. Sold merchandise costing $250 for $360 on account. 4. Collected $120 cash from accounts receivable. 5. Paid $500 of outstanding accounts payable. What is the value of ABC Merchandising Company's Net Cash Flow from Operating Activities in Year 1 ? ($500) $110 (\$380)

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