3K Fred started his delivery business a few years ago. This year, he collected $47 000 from his customers and paid

$21 000 in expenses. At the beginning of this year, his customers owed $3500 and he owed his suppliers $700.

At the end of this year, his customers owe him $3200; he owes his suppliers $1450; and his truck depreciation for the year was $4600. Using just this information:

(i) What was the increase in cash during the year?

(ii) What is this year’s accrual profit?