Question
Chriss Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $300 million. The income statement shows that net income
Chriss Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $300 million. The income statement shows that net income is $275 million and depreciation expense is $40 million. During the year, the change in inventory on the balance sheet was $30 million, change in accrued wages and taxes was $10 million, and change in accounts payable was $21 million. At the beginning of the year, the balance of accounts receivable was $40 million. |
Calculate the end-of-year balance for accounts receivable. (Enter your answer in millions of dollars.) |
Accounts receivable____________ | $ m |
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