solve question 2-c.

The answer in the box is incorrect.

I got the year 2 sales revenue balance and divided by 3 to find credit sales, and then I added the year 1 accounts recievable, and subtracted the year 2 accounts recievable by that number.

It did not work.

P12-2 Analyzing Comparative Financial Statements by Using Percentages and Selected Ratios L012-5, 12-6, 12-9 The comparative financial statements prepared at December 31, year 2. for Goldfish Company showed the following summarized data: Year 2 Year 1 Statenent of Earnings Sates revenue $380,670 $320,000 Cost of sales 320.270 268.000 Gross margin 60.400 52.600 Operating expenses and interest expense 36.600 Earnings before income taxes 19.370 15,400 Income tax expense 7.42 5.200 Net earnings $ 11,930 $ 9,700 Statenent of Financial Position Cash $ 4,110 $ 8,100 Accounts receivable (net) 15, 130 18.00 Inventory 43,712 38.ce Property, plant, and equipment (net) 25, 2e 21.00 $ 87,972 585,100 Current liabilities (no interest) Non-current liabilities (18+ interest) 35,310 34,100 Common shares (6.000 shares) 18,000 18,000 Retained earnings 20.160 15,400 5 88.000 5 85.100 $ 14,530 $ 17,600 "One-third was credit sales During Year 2. cash dividends amounting to $7.200 were declared and paid. 2-c. What was the amount of cash collections from customers in year 2? Amount of cash inflow $ 129,760