2. Assuming all sales were on credit, what amount of cash did the company collect on accounts receivable in 2012? Show all of your work.

Assets (in thousands)	December 31, 2012	December 31, 2011
Current assets: Cash and cash equivalents	$4,000	$3,400
Accounts receivable (net of allowances of $32 and $28, respectively)	$6,500	$5,700

Account	2012	2011	2010
Net sales (in millions)	$6,020	$5,425	$5,000
Net income (in millions)	$300	$285	$220