Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ann's Flowers Inc. reported 2008 net income of $1.40 million and depreciation of $254,000. The top part Ann's Flowers, Inc.'s 2007 and 2008 balance sheets

Ann's Flowers Inc. reported 2008 net income of $1.40 million and depreciation of $254,000. The top part Ann's Flowers, Inc.'s 2007 and 2008 balance sheets is listed below (in millions of dollars).

Current assets: 2007 2008 Current liabilities: 2007 2008
Cash and marketable securities $3.40 $2.20 Accrued wages and taxes $1.04 $1.04
Accounts receivable 4.20 5.40 Accounts payable 3.04 4.20
Inventory

6.40

5.20

Notes payable

9.92

7.56

Total $14.00 $12.80 Total $14.00 $12.80

What is the 2008 net cash flow from operating activities for Ann's Flower's, Inc.?

$2,814,000

-$1,200,000

$1,400,000

$1,414,000

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

The ImpactAssets Handbook For Investors

Authors: Jed Emerson

1st Edition

1783087293, 978-1783087297

More Books

Students also viewed these Finance questions