Statement of Cash Flows Chris's Outdoor Furniture, Inc., has net cash flows from operating activities for the

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Statement of Cash Flows Chris's 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 deprecia- tion expense is $46 million. During the year, the change in inventory on the balance sheet was $38 million, change in accrued wages and taxes was $15 million, and 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. (LG5)

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Finance Applications And Theory

ISBN: 9780073530673

2nd Edition

Authors: Marcia Cornett, Troy Adair, John Nofsinger

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