A company reports the following operating cash flows on its statement of cash flows (in millions):

Required
Identify whether the following account balances increased or decreased during the year:
(a) Accounts receivable
(b) Inventory
(c) Prepaid insurance,
(d) Accounts payable
(e) Salaries payable
(f) Taxes payable.

Transcribed Image Text:

S98 Net income Adjustments to reconcile net income to net cash provided by operating activities S(32) 12 Accounts receivable Inventory Prepaid insurance Accounts payable Salaries payable Taxes payable (13) 2 B) Net cash provided by operating activities $62