Accrual income versus cash flow for a period. Thomas Book Sales, Inc, supples textbooks to cellege and university bookstores The books are shipped with a proviso that they must be paid for within 30 days. For simplichy, assumve there are no returns and no bad debta (ie, bookstores pay on timo) This year, Thomas shipped and billod book thies totaling $890,000 Collections, doring the year totaled $508.201. The coompany spent 5341.796 acquiring the books that it shipped a. Using accrual accouning and the preceding values, show the firn's net proft for the past year b. Using cash accounsing and the preceding values, show the fimis net cash flow for the past year c. Explain why the acciual and cash accounting methods show delesent net profits How do the two profa Sigues provide sifferent inforization to the financial manager