1. Determine the net cash flows for periods 1 through 3 for a firm with the following transactions:

$1,000 spent in period 1 and $2,000 spent in period 2 to produce goods to be sold in the following periods, sales of $2,000 in period 2 and $4,000 in period 3, one-half of all sales are in cash with the other half collected in the following period.

Use the following answer format

Period	1	2	3
Sales
Change in accounts receivable
Cost of goods sold
Change in inventories
Net cash flow