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Ann's Flowers Inc. reported 2008 net income of $2.20 million and depreciation of $262,000. The top part 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 $4.20 $2.60 Accrued wages and taxes $1.12 $1.12
Accounts receivable 4.60 6.20 Accounts payable 3.12 4.60
Inventory 7.20
Problem 1: What is the 2008 net cash flow from operating activities for Ann's Flower's, Inc.?
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