Question

Exhibit 6.28 shows the consolidated income statements for Carter Corporation for three recent years.
Exhibit 6.28


Carter uses the direct method for presenting its cash flows from operations, which appears in Exhibit 6.29.


a. What was the change in accounts receivable during 2013?
b. Accounts payable for inventories increased by $181.4 during 2013. What was the change in inventories during 2013?
c. By how much did the amount paid for interest during 2013 differ from interest expense? Give the amount and indicate whether the amount paid exceeded, or was less than, expense.
d. Note that income increased by a bit more than 10% between 2011 and 2012 but nearly doubled between 2012 and 2013. What cause(s) can you suggest for this dramaticchange?


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  • CreatedMarch 04, 2014
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