Q2 (Cash flows) -20 Marks a) Determine the net cash flows for periods 1 through 3 for a firm with the following transactions: $1,000 spent in period 1 and $2,000 spent in period 2 to produce goods to be sold in the following periods, sales of $2,000 in period 2 and $4,000 in period 3, one half of all sales are in cash with the other half collected in the following period. Use the following answer format 1 2 3 Period Sales Change in accounts receivable Cost of goods sold Change in inventories Net cash flow