Question
Chriss Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $460 million. The income statement shows that net income
Chriss Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $460 million. The income statement shows that net income is $435 million and depreciation expense is $56 million. During the year, the change in inventory on the balance sheet was $46 million, change in accrued wages and taxes was $26 million, and change in accounts payable was $37 million. At the beginning of the year, the balance of accounts receivable was $56 million. Calculate the end-of-year balance for accounts receivable. (Enter your answer in millions of dollars.)
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