Jojo's Clown Emporium, which prepares financial statements on a cash boses spent $1,100 a month on inventory and $2,100 a month for utilities and rent. Total cath sales for the year were $86,000. What was Jojo's net income for the year? $47.600 $72.800 $82,800 360,000 Select the correct answers to fill in the blanks A business that starts the year with $40,000 in cash, then generates $10,000 in cash during the year, pays off a loan of $16,000 and purchases a new truck for $20,000 will show a statement of cash flows for the year of ain); of Increase 11 $14,000 11 $30,000 11 decrease 11 $24,000 11 $26.000