Question
On its income statement for a recent year, Twin Cities Airlines, Inc. reported a net loss of $68 million from operations. On its statement of
On its income statement for a recent year, Twin Cities Airlines, Inc. reported a net loss of $68 million from operations. On its statement of cash flows, it reported $457 million of cash flows from operating activities. Explain this apparent contradiction between the loss and the positive cash flows.
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Frank Woods Business Accounting Volume 1
Authors: Frank Wood, Alan Sangster
11th Edition
0273712128, 978-0273712121
