Apps R Us made a purchase of $41,000 worth of computer equipment. The equipment is expected to have a useful life of three years, and be worth $5,000 at the end of its useful life. They made a $5,000 down payment on the equipment, and financed the rest with a one-year loan at 12%. When they purchase the equipment, what part of the income statement will the purchase show up in? The purchase will not show up in the income statement The purchase is an operating expense The purchase is a cost of goods sold GFB's accounts receivable as of November 30, 2018 were $1.2 million. During December, they collected $800,000 in customer payments and sold $1 million worth of GFB Drones, with a cost of goods sold (COGS) of $500,000. What is the level of their accounts receivable on December 31? Show your work. GFB's sales have been growing rapidly. The company is profitable, but their cash levels have been falling. Give four reasons why their cash may be falling even while their sales are growing profitably