Question
Crystal Clear Cleaning reported the following balance sheets and income statement: Balance Sheets at December 31 Year 2 Year 1 Cash $ 1,400 $ 6,000
Crystal Clear Cleaning reported the following balance sheets and income statement:
Balance Sheets at December 31 | Year 2 | Year 1 |
Cash | $ 1,400 | $ 6,000 |
Accounts receivable | 13,500 | 12,000 |
Inventory | 9,800 | 4,500 |
Prepaid insurance | 1,200 | 900 |
Equipment, net | 37,500 | 38,000 |
Total assets | $63,400 | $61,400 |
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Accounts payable | $13,100 | $12,600 |
Wages payable | 7,400 | 8,000 |
Common stock | 32,000 | 31,000 |
Retained earnings | 10,900 | 9,800 |
Total liabilities & shareholders' equity | $63,400 | $61,400 |
Income Statement for Year 2 |
Sales | $104,500 |
Cost of goods sold | 49,500 |
Depreciation expense | 6,700 |
Other operating expenses | 27,800 |
Income taxes expense | 6,000 |
Net income | $ 14,500 |
How much is the company's cash flow for investing activities
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