Question
Suppose Gulf Shipping Company has the following results related to cash flows for 2017: Net Income of $7,800,000 Decrease in Accounts Payable of $300,000 Increase
Suppose Gulf Shipping Company has the following results related to cash flows for 2017:
Net Income of $7,800,000 Decrease in Accounts Payable of $300,000 Increase in Accounts Receivable of $800,000 Increase in Inventory of $900,000
Assuming no other cash flow adjustments than those listed above, create a statement of cash flows with amounts in thousands.
What is the Net Cash Flow from Operating Activities?
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Financial Accounting An Integrated Statements Approach
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
2nd Edition
324312113, 978-0324312119
