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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
Cash and marketable securities
$3
$2
Accrued wages and taxes
$1
Accounts receivable
4
5
Accounts payable
3
Inventory
6
Notes payable
9
7
Total
$13
$12
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