3 Q2 A. (20 Marks) a) What is the difference between Accounting Income and Cash Flow? Which do we use when making decisions? (8 Marks) b) Here are the simplified financial statements of X Corp. from a recent year: Prepare Income Statement & Balance Sheet at the beginning of the year and the end of the year from the information below: (12 marks) Net Sales - 13.194 Other Expenses - 4,060 Cost of Goods Sold - 4,060 Depreciation - 2,518 Interest Exp - 685 Taxes - 570 Dividend - 856 Beginning and End of the year: Cash & marketable securities - 89, 158 Receivables - 2,382 & 2,490 Inventories - 187 & 238 Other Current Assets- 867 & 932 Beginning and End of the year: Cash & marketable securities - 89, 158 Receivables - 2,382 & 2,490 Inventories -- 187 & 238 Other Current Assets-867 & 932 Property Plants - 19,973 & 19,915 Other long term assets -4,216 & 3,770 Payables - 2,564 & 3,040 Short Term Debt - 1,419 &1,573 Other current liabilities - 811 & 787 Long Term Debts & Leases 7,018 & 6,833 Other LT Liabilities -6,178 & 6,149 Share Holder's Equity