ultra day spa provided 120000 of services during 2016 all customers paid for the services with credit cards ultra submitted the credit card receipts to the credit

b. Based on this information alone, answer the following questions:
(1) What is the amount of total assets at the end of the accounting period?
(2) What is the amount of revenue reported on the income statement?
(3) What is the amount of cash flow from operating activities reported on the statement of cash flows?
(4) What costs would a business incur if it maintained its own accounts receivable? What cost does a business incur by accepting credit cards?