1. Mike, Inc., had the following transactions during the month of March :

1. Sold merchandise for $60 000 cash 2. Paid wages of $8000 3. Sold equipment for $20 000 on credit 4. Paid $7000 cash for utilities

What was the cash flow from operating activities?

2. Chemist Pty's beginning balance of inventory is $16 000; the ending balance is $30 000; credit sales for the period are $420 000; and cost of sales are $380 000. Calculate Chemist Pty's days inventory.

3. If sales revenue is $600 000 and cost of sales is $450 000, what is the gross profit margin?

4. Auto Ltd. manufactures different models of automobiles. The following is the budgeted volume sold for a specific model each month:

	January	February	March	April	May	June
Budgeted total car sales	4,140	4,450	6,010	4,150	6,280	7,990

Each car is sold at $25,000. 60% of sales during the month are paid in cash and the remaining is collected in the following month.

What is the total cash collection in April (in '000)?