Question
Harper Outdoor Furniture, Incorporated, has net cash flows from operating activities for the last year of $346 million. The income statement shows that net income
Harper Outdoor Furniture, Incorporated, has net cash flows from operating activities for the last year of $346 million. The income statement shows that net income is $314 million and depreciation expense is $52 million. During the year, the change in inventory on the balance sheet was $44 million, the change in accrued wages and taxes was $21 million, and the change in accounts payable was $26 million. At the beginning of the year the balance of accounts receivable was $43 million. Calculate the end-of-year balance for accounts receivable. (Enter your answer in millions.)
End of year balance of accounts receiveable _____ (million)
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