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HW Score: 20%, 1 of 5 P1-2 (similar to) Question Help Acerul income versus cash flow for a period. Thomas Book Sales, Inc., supplies textbooks to college and university bookstores. The books are shipped with a proviso that they must be paid for within 30 days but can be returned for refund credit within 90 days. 2014, Thomas shipped and bited bookies totaing $170,000. Colections, net of retum credits during the year totaled 5790.517. The company spent $350,826 acquiring the book that shipped. .. Using oral counting and the preceding values show them's net profit for the past year 1. Using the counting and the preceding values show the firm's net cash flow for the past year. Which of these statements is more to the financial manager? Why? Uwing werd according wid the preceding Volume, how the folo et profit for the past year in the following table. Round to the newest collat) Accounting View (nccrual basis Thoma Book Sales, Inc. Income Statement for the Year Ended 12/31 Sales reven