Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ramakrishnan, Inc., reported 2015 net income of $25 million and depreciation of $3,600,000. The top part of Ramakrishnan, Inc.s 2015 and 2014 balance sheets is

Ramakrishnan, Inc., reported 2015 net income of $25 million and depreciation of $3,600,000. 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 $ 30 $ 29 Accrued wages and taxes $ 43 $ 38
Accounts receivable 98 95 Accounts payable 83 75
Inventory 180 150 Notes payable 75 70
Total $ 308 $ 274 Total $ 201 $ 183

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

Net cash flow $

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

Public Finance Administration

Authors: B. J. Reed, John W. Swain

2nd Edition

0803974051, 978-0803974050

More Books

Students also viewed these Finance questions

Question

Explain the difference between likelihood and probability.

Answered: 1 week ago

Question

What is the reversal journal entry for mark-to-market?

Answered: 1 week ago