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Brief Exercise 21-12 (Algo) Indirect method [LO21-4] Sunset Acres reported net income of $65.0 million. Included in that number were trademark amortization expense of
Brief Exercise 21-12 (Algo) Indirect method [LO21-4] Sunset Acres reported net income of $65.0 million. Included in that number were trademark amortization expense of $3.3 million and a gain on the sale of land of $1.8 million. Records reveal decreases in accounts receivable, accounts payable, and inventory of $1.2 million, $2.3 million, and $3.2 million, respectively. Required: What were Sunset's cash flows from operating activities? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)
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