(Calculating cash from operations, LO 3) You are provided the following information about Pubnico Ltd. (Pubnico) for fiscal 2015:

Required:
Calculate cash from operations for Pubnico for fiscal 2015. Provide a brief explanation for the difference between net income and cash from operations.

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Net income Accounts receivable on July 1, 2014 Accounts receivable on June 30, 2015 Inventory on July 1, 2014 $ 585,000 195,000 250,000 775,000 Inventory on June 30, 2015 955,000 Accounts payable on July 1, 2014 450,000 Accounts payable on June 30, 2015 490,000 Unearned revenue on July 1, 2014 1,000,000 Unearned revenue on June 30, 2015 250,000 Depreciation expense for the year 2014 200,000