Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Ramakrishnan, Inc., reported 2021 net income of $20 million and depreciation of $3,550,000. The top part of Ramakrishnan, Inc.s, 2021 and 2020 balance sheets is
Ramakrishnan, Inc., reported 2021 net income of $20 million and depreciation of $3,550,000. The top part of Ramakrishnan, Inc.s, 2021 and 2020 balance sheets is reproduced below (in millions of dollars):
2021 | 2020 | 2021 | 2020 | ||||||||||||
Current assets: | Current liabilities: | ||||||||||||||
Cash and marketable securities | $ | 25 | $ | 28 | Accrued wages and taxes | $ | 44 | $ | 37 | ||||||
Accounts receivable | 100 | 94 | Accounts payable | 76 | 70 | ||||||||||
Inventory | 170 | 148 | Notes payable | 70 | 65 | ||||||||||
Total | $ | 295 | $ | 270 | Total | $ | 190 | $ | 172 | ||||||
Calculate the 2021 net cash flow from operating activities for Ramakrishnan, Inc.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started