Harper Outdoor Furniture Inc. has net cash flows from operating activities for the last year of $340
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Harper Outdoor Furniture Inc. has net cash flows from operating activities for the last year of $340 million. The income statement shows that net income is $315 million and depreciation expense is $46 million. During the year, the change in inventory on the balance sheet was $38 million, the change in accrued wages and taxes was $15 million, and the change in accounts payable was $20 million. At the beginning of the year the balance of accounts receivable was $50 million. Calculate the end-of-year balance for accounts receivable. (LG 21-4)
AppendixLO1
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ISE Financial Markets And Institutions
ISBN: 9781265561437
8th International Edition
Authors: Anthony Saunders, Marcia Cornett, Otgo Erhemjamts
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