Accrual income versus cash flow for a period The Motor Corporation sold vehicles for $$500,000$ to one specific dealer during the year. At the financial year end, the dealer still owed The Motor Corporation $$350,000.$ The cost of the vehicles sold was $$400,000,$ and this cost was incurred and paid by The Motor Corporation.

a$.$ Determine the firm's net profit for the past year using the accrual basis of accounting.

b$.$ Determine the firm's net cash flow for the past year using the cash basis of accounting.

c$.$ The accountant and financial manager need to present the results to the CEO of The Motor Corporation. What will be their message regarding the performance of the corporation?

a$.$ Determine the firm's net profit for the past year using the accrual basis of accounting. $($Use a minus sign for a loss.$)$

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