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Assume that a company provided the followlng statement of cash flows [all sales are on account): Operating activities: Net income $ 45 Adjustments to convert
Assume that a company provided the followlng statement of cash flows [all sales are on account): Operating activities: Net income $ 45 Adjustments to convert net income to a cash basis: Depreciation 5 15 Decrease in accounts receivable 2 Increase in inventory (10) Increase in accounts payable 4 ll Net cash provided by (used in} operating activities 56 Investing activities: Additions to property, plantJr & equipment (40) Net cash provided by (used in} investing activities (40} Financing activities: Issuance of common stock 5 Cash dividends paid {14) Net cash provided by (used in} financing activities (9} Net increase in cash and cash equivalents T Beginning cash and cash equivalents 6 Ending cash and cash equivalents $ 13 If the company's sales were $226, then its cash collections from customers were
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