During the period panoramic recognized 40000 of revenue on

Reference no: EM13569602

Panoramic Inc. had a beginning balance of $2,000 in its Accounts Receivable account. The ending balance of Accounts Receivable was $2,400. During the period, Panoramic recognized $40,000 of revenue on account. Panoramic's Salaries Payable account has a beginning balance of $1,300 and an ending balance of $900. During the period, the company recognized $35,000 of accrued salaries expense.

Required:
a.	Based on the information provided, determine the amount of net income.

Net income

= $5,000

b.	Based on the information provided, determine the amount of net cash flow from operating activities.

Net cash flow from operating activities

$ ???

Reference no: EM13569602

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