Ann's Flowers, Inc. reported 2008 net income of $1 million and depreciation of $250,000. The top part of Ann's Flowers, Inc.'s 2007 and 2008 balance sheets is listed below (in millions of dollars).
|
Current assets:
|
2007
|
2008
|
Current liabilities
|
2007
|
2008
|
|
Cash and marketable securities
|
$3
|
$2
|
Accrued wages and taxes
|
$1
|
$1
|
|
Accounts receivable
|
4
|
5
|
Accounts payable
|
3
|
4
|
|
Inventory
|
6
|
5
|
Notes payable
|
9
|
7
|
|
Total
|
$13
|
$12
|
Total
|
$13
|
$12
|
What is the 2008 net cash flow from operating activities for Ann's Flowers, Inc.?
|
$2,250,000 |
|
$1,250,000 |
|
$1,000,000 |
|
$-1,000,000 |