Green Glory Corp., a garden supply wholesaler, reported cost of goods sold for the year of $80
Question:
Green Glory Corp., a garden supply wholesaler, reported cost of goods sold for the year of $80 million. Total assets increased by $55 million, including an increase of $5 million in inventory. Total liabilities increased by $45 million, including an increase of $2 million in accounts payable. The cash paid by the company to its suppliers is most likely closest to:
A. $73 million.
B. $77 million.
C. $83 million.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
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
Question Posted: