Use the comparative balance sheet below to complete the partial operating section of the statement of cash flows below.

The College Shop

Comparative Balance Sheet As of December 31, 2007 and 2006 2007 2006 Assets Cash 76,000 70,000 Accounts receivable 90,000 91,000 Inventory 110,000 80,000 Total Current Assets 276,000 240,000 Furniture & Equipment, net 90,000 120,000 Total Assets 366,000 360,000 Liabilities and Equity Accounts Payable 70,000 80,000 Bonds Payable 100,000 100,000 Total Liabilities 170,000 180,000 Owner's Equity 196,000 180,000 Total Liabilities & Equity 366,000 360,000

The College Shop Statement of Cash Flows For the Period Ending 12/31/07

Cash Flows from Operating Activities:

Net Income $100,000

______________? in Accounts Receivable _____________?

______________? in Inventory _______________?

______________? in Accounts payable _______________?