Complete the sentence with the correct responses It's vital for company executives and business owners to understand financial statements, in order to but also because they can be give out bonuses and raises keep informed about the company's financial status to make adjustments order more inventory s, in order to because they can required to take over the documents held legally accountable interviewed by the media Jojo's Clown Emporium, which prepares financial statements on a cash bases, spent $1,100 a month on inventory and $2,100 a month for utilities and rent. Total cash sales for the year were $86,000. What was Jojo's net income for the year? $82,800 $72,800 $47,600 S60,800 Select the correct answers to fill in the blanks A business that starts the year with $40,000 in cash, then generates $10,000 in cash during the year, pays off a loan of $16,000 and purchases a new truck for $20,000 will show a statement of cash flows for the year of an of !! decrease ! increase 1: $26,000 :: $14,000 # $24,000 # $30,000