Final answer:
Credit sales during the first year of operations were greater than total sales.
Step-by-step explanation:
In order to determine whether credit sales during the first year of operations were less than, equal to, or greater than total sales, we need to understand the relationship between credit sales and total sales. Credit sales refer to transactions where customers make purchases on credit and pay at a later date, while total sales include both credit sales and cash sales.
To calculate the total sales, you need to add the credit sales and cash sales. If credit sales are less than total sales, it implies that cash sales contribute significantly to the total. If credit sales are equal to total sales, it means that all sales are on credit. However, if credit sales are greater than total sales, it suggests a substantial portion of sales is made on credit.
In this scenario, the final answer is that credit sales were greater than total sales during the first year of operations. This could indicate a reliance on credit transactions for revenue generation and might have implications for the company's cash flow and financial stability.
Therefore, the correct option is: c) Greater than total sales