Question: Question # 4 . 2 0 marks Sales for the year are $ 6 1 , 0 0 0 . The cash paid for operating

Question #4.
20 marks
Sales for the year are $61,000. The cash paid for operating expenses (disbursements) for the year is $42,500.
Required:
a.
Determine cash collections from customers (6 marks).
Calculate CFO = Collections - Disbursements. (2 marks).
b.
Calculate the net income (6 marks).
Reconcile NI to CFO (6 marks).
Question #4. 20 marks Sales for the year are $61,000. The

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