Candy Canes Inc spends 172000 to buy sugar and peppermint in

Candy Canes Inc. spends $172,000 to buy sugar and peppermint in April. It produces its candy and sells it to distributors in May for $230,000, but it does not receive payment until June. For each month, find the firm’s sales, net income, and net cash flow, and fill in the following table. (Leave no cells blank - be certain to enter \"0\" wherever required. Negative amounts should be indicated by a minus sign.)

Solution

April May June Sales 0 $230,000 0 cost of goods sold 0 -172,000 0 net income (sales - cost of goods sold) 0 $58,000 0 net cash flow -172.000 0 230,000 inventory 172,000 0 0 accounts receivable 0 230,000 0