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Assume the following information: Item Date Amount How Bought furniture Dec 2013 $ 175,000 on credit Sold furniture Dec 2013 $ 250,000 for cash Pay rent salaries Dec 2013 $ 25,000 for cash Pay for furniture Jan 2014 $ 175,000 for cash Bought furniture Jan 2014 $ 175,000 on credit Sold furniture Jan 2014 $ 250,000 for cash Pay rent salaries Jan 2014 25,000 for cash What is the profit for December and cash flow for December? Profit = $225,000; cash flow = $50,000 Profit = $50,000; cash flow = $225,000 Profit = $50,000; cash flow = $50,000