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Lynx Company purchased $4,000 of merchandise on account and sold the merchandise to a customer for $7,000 cash. What is Lynx's gross margin and the

Lynx Company purchased $4,000 of merchandise on account and sold the merchandise to a customer for $7,000 cash. What is Lynx's gross margin and the net change in cash flow from operating activities as a result of these transactions?

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A) B) C) D) Gross Margin $7,000 $3,000 $3,000 $4,000 Cash Flow From Operating Activities $4,000 inflow $7,000 inflow $7,000 outflow $4,000 outflow

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