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Selected financial statement information for Filmco appears below: Balance Sheet accounts Jan. 1, 2010 Dec. 31, 2010 Inventory $210,000 $90,000 Accounts Receivable $85,000 $45,000 Income

Selected financial statement information for Filmco appears below:

Balance Sheet accounts Jan. 1, 2010 Dec. 31, 2010
Inventory $210,000 $90,000
Accounts Receivable $85,000 $45,000

Income Statement (partial) For the year ended Dec. 31, 2010
Sales $900,000
Cost of Goods Sold $730,000
Gross Profit $170,000

Calculate :

the amount of cash collected from customers and

the amount of cash spent on inventory for 2010 by Filmco.

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