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Ann's Flowers Inc. reported 2008 net income of $2.00 million and depreciation of $260,000. The top part Ann's Flowers, Inc.'s 2007 and 2008 balance sheets

Ann's Flowers Inc. reported 2008 net income of $2.00 million and depreciation of $260,000. 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 $4.00 $2.50 Accrued wages and taxes $1.10 $1.10
Accounts receivable 4.50 6.00 Accounts payable 3.10 4.50
Inventory

7.00

5.50

Notes payable

11.30

8.40

Total $15.50 $14.00 Total $15.50 $14.00

What is the 2008 net cash flow from operating activities for Ann's Flower's, Inc.?

$1,660,000

$3,660,000

$2,000,000

-$1,500,000

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