Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An analyst has the following information of Ouyang Inc. (in millions): Table: Ouyang Inc. Financial Information (in millions) Financial Information Year Ended Dec 31, 20X2

An analyst has the following information of Ouyang Inc. (in millions):

Table: Ouyang Inc. Financial Information (in millions)

Financial Information Year Ended Dec 31, 20X2 Year Ended Dec 31, 20X3
Net sales 198 273
Cost of goods sold 121 182
A/R 37 63
Inventory 72 42
A/P 38 21

Based on the information given here, the firm's 20X3 statement of cash flows in the direct format would include amounts for cash received from customers and cash paid to suppliers, respectively, that are closest to:

Group of answer choices

cash received from customers = $247 million; cash paid to suppliers = $169 million

cash received from customers = $222 million; cash paid to suppliers = $158 million

cash received from customers = $218 million; cash paid to suppliers = $137 million

cash received from customers = $207 million; cash paid to suppliers = $117 million

cash received from customers = none of the above; cash paid to suppliers = none of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Carl S Warren, James M Reeve, Jonathan Duchac

12th Edition

0538478519, 9780538478519

More Books

Students also viewed these Accounting questions

Question

Be straight in the back without blowing out the chest

Answered: 1 week ago

Question

Wear as little as possible

Answered: 1 week ago

Question

Be relaxed at the hips

Answered: 1 week ago