Company A had sales of $1,700 during the year and collected them all in cash.
Company B, on the other hand, had sales of $1,700 during the year but collected only $1,400 cash with the remaining $300 sales on account.
Both firms had expenses of $900, all paid in cash by both firms.
What was Company A’s net income for the year?
What was Company A’s net cash from operating activities during the year?
What was Company B’s net income for the year?
What was Company B’s net cash from operating activities during the year?
