Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ramakrishnan, Inc., reported 2015 net income of $15 million and depreciation of $3,500,000. The top part of Ramakrishnan, Inc.s 2015 and 2014 balance sheets is

Ramakrishnan, Inc., reported 2015 net income of $15 million and depreciation of $3,500,000. The top part of Ramakrishnan, Inc.s 2015 and 2014 balance sheets is reproduced below (in millions of dollars).

2015 2014 2015 2014
Current assets: Current liabilities:
Cash and marketable securities $ 20 $ 27 Accrued wages and taxes $ 45 $ 36
Accounts receivable 95 93 Accounts payable 73 65
Inventory 175 146 Notes payable 65 60
Total $ 290 $ 266 Total $ 183 $ 161

Calculate the 2015 net cash flow from operating activities for Ramakrishnan, Inc. (Enter your answer in dollars not in millions.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Standards Of Value

Authors: Jay E. Fishman, Shannon P. Pratt, William J. Morrison

2nd Edition

1118138538, 978-1118138533

More Books

Students also viewed these Finance questions

Question

Explain the various techniques of Management Development.

Answered: 1 week ago

Question

Choose an appropriate organizational pattern for your speech

Answered: 1 week ago

Question

Writing a Strong Conclusion

Answered: 1 week ago