Colgate- Palmolive was founded in 1806. Its statement of cash flows reported the following information (in millions) for the year ended December 31, 2012:
Operating Activities
Net Income………………………………………… $ 2,630
Depreciation…………………………………………… 425
Cash effect of changes in
Accounts Receivable 20 Inventory…………………… (20)
Accounts Payable……………………………………… (5)
Other………………………………………………….. 150
Net Cash Provided by Operations………………… $ 3,200
Required:
Based on the information reported in the operating activities section of the statement of cash flows for Colgate- Palmolive, indicate whether the following accounts increased (I) or decreased (D) during the period:
(a) Accounts Receivable,
(b) Inventories, and
(c) Accounts Payable.