Question 2

Hi-Tech, Inc., reports net income of $53 million. Included in that number are depreciation expense of $4.3 million and a loss on the sale of equipment of $1.7 million. Records reveal increases in accounts receivable, accounts payable, and inventory of $1.3 million, $2.3 million, and $3.3 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 flows from operating activities: aces Net cash flows from operating activities