IConia-high tech company - can pay suppliers in the quarter after it has sold to customers. Iconia has 25% net profit margin and is reporting the following in its quarterly reports Income Statement Income Statement Balance Sheet 101 0 Reported Sales Reported Net Income Reported Accounts Payable 0 Balance Sheet Balance Sheet 0 Stock of Inventory Reported Accounts Receivable a) What are Iconia quarterly cash flows taking Accounts Payable into account? b) How does the timing and the value of the cash flows after accounting for payables differ those of net income? 102 100 25 75 Iconia offered some trade credit to its clients after it suffered a slower growth in sales than expected. These are detailed in the table below 1Q1 0 0 c) What are the actual IConia quarterly cash flows? 1Q3 100 25 75 1Q2 30 20 1Q4 400 100 300 1Q3 60 50 1Q4 10 100 201 0 0 0 2Q1 880