Selected Balance Sheet account balances are: FLETCHER COMPANY December 31 2006 2005 Cash $ 20,000 $ 10,000 Accounts Payable 100,000 90,000 Accounts Receivable 160,000 210,000 Salaries Payable 7,000 1,000 Merchandise Inventory 90,000 70,000 Prepaid Rent 15,000 30,000 Income Taxes Payable 1,000 500

Selected Income Statement items for the year 2006 are: Sales 800,000 Cost of Goods Sold 500,000 Salary Expense 200,000 Depreciation Expense 60,000 Rent Expense 70,000 Income Taxes Expense 40,000

1.Cash collections from customers during 2006 amounted to:

2.Cash payments to suppliers for merchandise inventory during 2006 amounted to:

3.Cash payments for salaries during 2006 amounted to:

4.Cash payments for rent during 2006 amounted to:

5.Cash payments for income taxes during 2006 amounted to:

6.Cash from operating activities during 2006 amounted to:

7.Net income is:

Selected Balance Sheet account balances are: FLETCHER COMPANY December 31 006 S 20,000 S 10,000 90,000 210,000 1,000 70,000 30,000 500 Cash Accounts Payable Accounts Receivable Salaries Payable Merchandise Inventory Prepaid Rent Income Taxes Payable 100,000 160,000 7,000 90,000 15,000 1,000 Selected Income Statement items for the year 2006 are: Sales Cost of Goods Sold Salary Expense Depreciation Expense Rent Expense Income Taxes Expense 800,000 500,000 200,000 60,000 70,000 40,000 1. Cash collections from customers during 2006 amounted to 2. Cash payments to suppliers for merchandise inventory during 2006 amounted to: 3. Cash payments for salaries during 2006 amounted to: 4. Cash payments for rent during 2006 amounted to Cash payments for income taxes during 2006 amounted to: Cash from operating activities during 2006 amounted to 5. 6. 7. Net income is