Do Homework Elisha Nelson -Google Chrome e Secure https//www.mathxl.com/Student/PlayerHomework aspx?homeworkld 4488052238&questionld 1&flushed-false&acld 47067798icenterwineyes Q Managerial Finance_Fall 2017 Section 1 (9:00-9:50 AM) Homework: HW 1_Chapter 1 & Chapter 2 (Business Taxes) Savo Score: 0 of 3 pts 2013(1 omplete) Hw Score: 10%, 1 of 10 pts P1-2 (similar to) E Question Help Accrual income versus cash flow for a period. Thomas Book Sales, inc.,supplies textbooks to colege and universtly bookstores. The bocks are shipped with a proviso that they mast be paild for within 30 days but can be returned for a full refund credit within 90 days. In 2014, Thomas shipped and billed book tites totaling $750,000. Collections, net of returm credrts, during the year totaled $687,847. The company spent $302,012 acquiring the books that it shipped. a. Using accrual accounting and the preceding values, show the firm's net proft for the past year b. Using cash accounting and the preceding values, show the firm's net cash flow for the past year c. Which of these statements is more useful to the financil manager? Why? a. Using accrual accounting and the preceding values, show the firm's net profit for the past year in the following table. (Round to the nearest dollar) Accounting View (accrual basis) Thomas Book Sales, Inc. Income Statement for the Year Ended 12/31 Sales revenue .. | 1.1 l -G | :// " (u) a More Enter your answer in the answer box and then click Check Answer Clear All 6 remaining e thin go days. In 2009, Thomas shipped and bimted book tities totaling S 760,000, Collections, ner or return creaits, auring tne Type here to search