Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Statement of Cash Flows Ann's Flowers Inc. reported 2008 net income of $1.90 million and depreciation of $259,000. The top part Ann's Flowers, Inc.'s 2007

Statement of Cash Flows Ann's Flowers Inc. reported 2008 net income of $1.90 million and depreciation of $259,000. The top part Ann's Flowers, Inc.'s 2007 and 2008 balance sheets is listed below (in millions of dollars).

Current assets: 2007 2008 Current liabilities: 2007 2008
Cash and marketable securities $3.90 $2.45 Accrued wages and taxes $1.09 $1.09
Accounts receivable 4.45 5.90 Accounts payable 3.09 4.45
Inventory

6.90

5.45

Notes payable

11.07

8.26

Total $15.25 $13.80 Total $15.25 $13.80

What is the 2008 net cash flow from operating activities for Ann's Flower's, Inc.?

A. $1,619,000

B. $3,519,000

C. -$1,450,000

D. $1,900,000

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

Financial Management For Public Health And Not For Profit Organization

Authors: Steven A. Finkler

3rd International Edition

0138152772, 9780138152772

More Books

Students also viewed these Finance questions

Question

Please show calculations for my wrong parts in the very last table

Answered: 1 week ago