Answer:
Net increase in cash position is $18,960
From operations $128,160
From investing activities -$83,200
From Finance activities -$26,000
Explanation:
The income statement has been uploaded for your benefit.
The schedules attached tagged "workings" explains how we arrived at each change in cash flow by line item.
Steve will get $11360 with the process of simple interest.
<h3>what is simple interest?</h3>Simple interest is calculated based on a loan's principal or the initial deposit into a savings account. Simple interest doesn't compound, therefore a creditor will only charge interest on the principal sum, and a borrower will never be required to pay further interest on the interest that has already accrued.
Rate of interest = 14%
principal + interest = $8000
Time = 3 years
Simple interest
Now principal + interest = 8000+3360 = 11360
Therefore, Steve will get $11360.
To learn more about simple interest from the given link
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