Transcribed Image Text: Rainbow, Inc began operations on January 1 of the oument year with a $12.000 cash balanoe. Forty percent of sales e collected

Transcribed Image Text: Rainbow, Inc began operations on January 1 of the oument year with a $12.000 cash balanoe. Forty percent of sales e collected in the month of sale 00 ae colleded in the
month following sale Similarty. 20% of purchases are paid in the month of purhase, and B0 are paid in the morth following purchase. The folowing data apply
February
January
February
66.00
35.00
Sales
30.00
40.00
Purdhases
Operating epenses
operating experses re paid in the month inoumed and indude monnly deprediation anarges of 52.600. denermine the change in Rainbows cash talane dunng February
$7.500 ingrease
7.000
9.000
$2.000 increase
35.000 inrease
4.000 ingrease
None of the answen is coned

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