April 10: Paid for the April 1 purchase.

April 15: Sold one unit for $200 cash

April 18: Purchased ten units from Solo Corp. for $900 total, with terms 3/10, n/30, FOB destination.

April 25: Sold three units for $200 each, cash.

April 28: Paid for the April 18 purchase.

. Determine net income for the month of April. Speedy Cycle incurred and paid $100 for rent and $50 for miscellaneous expenses during April. Ending inventory is $967. (Ignore income taxes.) $fill in the blank 2db494004fb9050_1

3. Assuming that these are the only transactions during April (including rent and miscellaneous expenses), compute net cash flow from operating activities. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. $fill in the blank 2db494004fb9050_2

4. Cash outflow during the first month of business is much larger than expenses as shown on the income statement due to

business startup expenses such as professional fees and licensing.loan to business owner.payments for acquisition of inventory which was unsold at the end of the month.payments not yet received from customers on account of credit sales.