1.2. 3.

The financial statements of New World, Incorporated, provide the following information for the current year: Accounts receivable Inventory Prepaid expenses Accounts payable (for merchandise) Accrued expenses payable December 31 January 1 $ 284,000 $ 351,500 $ 276,250 $ 263,000 $ 71,600 $ 68,500 $ 253,800 $ 243,550 $ 66,150 $ 77,950 $ 3,152,500 $ 1,660,500 $ 378,500 Net sales Cost of goods sold Operating expenses (including depreciation of $60,000) What is the amount of cash received from customers during the current year? Multiple Choice $3,250,200 $3,162,750 $3,152,500 $3,220,000 The financial statements of New World, Incorporated, provide the following information for the current year: Accounts receivable Inventory Prepaid expenses Accounts payable (for merchandise) Accrued expenses payable December 31 January 1 $ 287,000 $ 381,500 $ 280,000 $ 266,000 $ 72,800 $ 70,000 $ 258,300 $ 249,550 $ 66, 150 $ 79,450 $ 3,167,500 $ 1,669,500 $ 381,500 Net sales Cost of goods sold Operating expenses (including depreciation of $63,000) What is New World's net cash flow from operating activities for the current year? Multiple Choice $1,252,650 $1,315,650 $1,587,250 $1,584,450 3. Rent expense in Marin Company's Year 2 income statement is $440,000. If Prepaid Rent was $70,000 at December 31, Year 1, and is $111,000 at December 31, Year 2, the cash paid for rent during Year 2 is: Multiple Choice