Question
In 2016, a company using IFRS made cash payments of $6 million for salaries, $2 million for interest expense, and $4 million for income taxes.
In 2016, a company using IFRS made cash payments of $6 million for salaries, $2 million for interest expense, and $4 million for income taxes. Additional information for the company is provided in the table:
| ($ million) | 2016 | 2015 |
|---|---|---|
| Revenue | 37 | 42 |
| Cost of goods sold | 16 | 18 |
| Inventory | 40 | 36 |
| Accounts receivable | 19 | 22 |
| Accounts payable | 12 | 14 |
Based only on the information given, the companys operating cash flow for 2016 is closest to:
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Fundamental Managerial Accounting Concepts
Authors: Edmonds, Tsay, olds
6th Edition
71220720, 78110890, 9780071220729, 978-0078110894
