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Ann's Flowers Inc. reported 2008 net income of $1.40 million and depreciation of $254,000. The top part Ann's Flowers, Inc.'s 2007 and 2008 balance sheets
Ann's Flowers Inc. reported 2008 net income of $1.40 million and depreciation of $254,000. The top part Ann's Flowers, Inc.'s 2007 and 2008 balance sheets is listed below (in millions of dollars).
Current assets: | 2007 | 2008 | Current liabilities: | 2007 | 2008 | |
Cash and marketable securities | $3.40 | $2.20 | Accrued wages and taxes | $1.04 | $1.04 | |
Accounts receivable | 4.20 | 5.40 | Accounts payable | 3.04 | 4.20 | |
Inventory | 6.40 | 5.20 | Notes payable | 9.92 | 7.56 | |
Total | $14.00 | $12.80 | Total | $14.00 | $12.80 |
What is the 2008 net cash flow from operating activities for Ann's Flower's, Inc.?
$2,814,000
-$1,200,000
$1,400,000
$1,414,000
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