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Sanders Awnings reported net income of $93.0 million. Included in that number were depreciation expense of $2.6 million and a loss on the sale of
Sanders Awnings reported net income of $93.0 million. Included in that number were depreciation expense of $2.6 million and a loss on the sale of equipment of $1.9 million. Records reveal increases in accounts receivable, accounts payable, and inventory of $1.5 million, $2.5 million, and $4.6 million, respectively. Required: What were Sanders cash flows from operating activities? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)
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