Question
Hi-Tech, Inc., reports net income of $68 million. Included in that number are depreciation expense of $5.8 million and a loss on the sale of
Hi-Tech, Inc., reports net income of $68 million. Included in that number are depreciation expense of $5.8 million and a loss on the sale of equipment of $1.8 million. Records reveal increases in accounts receivable, accounts payable, and inventory of $2.8 million, $3.8 million, and $4.8 million, respectively. What are Hi-Tech's net cash flows from operating activities? (List cash outflows and any decrease in cash as negative amounts. Enter your answer in millions. (i.e., $10,000,000 should be entered as 10).) HI-TECH, INC. Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash Blows from operating activities: Not cash flows from operating activities $ 0.0
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