i am stuck on the following problem. here is a pic of the problem
any help would be appreciated
7- Income Statement
December 31, 2011
Services on account $2,400
less operating expenses 1,600
Net income for 2011 $ 800
8- Cash flow statement from operating activities
Cash collected from accounts receivable $1,800
Less cash paid for operating expenses 1,600
Cash flow from operating activities $ 200
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