Question
Consider the following operating section from a statement of cash flows, for the year ended December 31, 2020: Cash flows from operating activities: Net income
Consider the following operating section from a statement of cash flows, for the year ended December 31, 2020:
Cash flows from operating activities: | |||
Net income | $ | 388,445 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 182,455 | ||
Deferred income taxes | 46,805 | ||
Excess tax benefits from stock-based compensation | (4,745) |
| |
Stock-based compensation | 14,728 | ||
Loss on disposition of property and equipment, including impairment | 9,461 | ||
Other gains and losses | |||
Changes in operating assets and liabilities: | |||
Inventories | (126,638) | ||
Prepayments and other current assets | (8,409) | ||
Other assets | (4,888) | ||
Accounts payable | 37,057 | ||
Income taxes | (23,799) | ||
Other liabilities | 9,528 | ||
Cash flows from operating activities | $ | 520,000 |
Did accounts payable increase or decrease during the most current year (the year ended December 31, 2020)? Choose increase or decrease.
[ Select ] ["increase", "decrease"] |
Did inventory increase or decrease during the most current year (the year ended December 31, 2020)? Choose increase or decrease.
[ Select ] ["increase", "decrease"] |
Refer to cash from operations in the table above. Suppose that the change in cash for the most current year (the year ended December 31, 2020) was +$30,000 and that the cash flow from investing for the most current year was -$250,000 . What was the cash flow from financing for the most current year (note: parentheses indicate negative number or cash outflow)?
[ Select ] ["$240,000", "$(240,000)", "$220,000", "$(220,000)"] |
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