Blue Bayou, a fictitious advertising company, reported revenues of $50 million, total expenses of $35 million, and
Question:
Blue Bayou, a fictitious advertising company, reported revenues of $50 million, total expenses of $35 million, and net income of $15 million in the most recent year. If accounts receivable decreased by $12 million, how much cash did the company receive from customers?
A. $38 million.
B. $50 million.
C. $62 million.
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C is correct Revenues of 50 million plus the decrea...View the full answer
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Related Book For 
International Financial Statement Analysis CFA Institute Investment Series
ISBN: 9780470287668
1st Edition
Authors: Thomas R. Robinson, Hennie Van Greuning CFA, Elaine Henry, Michael A. Broihahn, Sir David Tweedie
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