Question
Chriss Outdoor Furniture, Inc. has net cash flows from operating activities for the last year of $310 million. The income statement shows that net income
Chriss Outdoor Furniture, Inc. has net cash flows from operating activities for the last year of $310 million. The income statement shows that net income is $285 million and depreciation expense is $41 million. During the year, the change in inventory on the balance sheet was $31 million, change in accrued wages and taxes was $11 million, and change in accounts payable was $22 million. At the beginning of the year, the balance of accounts receivable was $41 million. Calculate the end-of-year balance for accounts receivable.
(Enter your answer in millions of dollars.)
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