Flagler Company purchased $4,000 of merchandise on account. Flagler sold the merchandise to a customer for $7,000 cash. What is the increase in gross margin and the net change in cash flow from operating activities as a result of these transactions? (Consider the effects of both parts of this event.) Gross MarginCash Flow FromOperating ActivitiesA.$7,000 $4,000inflowB.$3,000 $7,000inflowC.$3,000 $7,000outflowD.$4,000 $7,000inflow
A. Option A
B. Option B
C. Option C
D. Option D
Answer: B
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