Cash Fl o ws. Canyon Tours showed the following components of working capital last year: Beginning

Cash Fl o ws. Canyon Tours showed the following components of working capital last year:

Beginning

End of Y ear

Accounts receivable

$24,000

$22,500

Inventory

12,000

13,000

Accounts payable

14,500

16,500

a. What was the change in net working capital during the year?

b. If sales were $36,000 and costs were $24,000, what was cash flow for the year? Ignore taxes.