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3. For the year just ended, you have gathered the following information about the Holly Corporation a. A $200 dividend was paid. b. Accounts payable
3. For the year just ended, you have gathered the following information about the Holly Corporation a. A $200 dividend was paid. b. Accounts payable increased by $500. c. Fixed asset purchases were $900 d. Inventories increased by $625. e. Long-term debt decreased by $1,200 Label each as a source or use of cash and describe its effect (increase or decrease) on the firm's cash balance. 4. Consider the following financial statement information for the Route 66 Company: Item Inventory Accounts receivable Accounts payable Beginning Ending $1,401 3,368 recelvable$1.273 3,782 ,795 Net sales Cost of goods sold $14,750 11,375 Calculate the operating and cash cycles
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