Question: Harper Outdoor Furniture Inc has net cash flows from operating
Harper Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $ 340 million. The income statement shows that net income is $ 315 million and depreciation expense is $ 46 million. During the year, the change in inventory on the balance sheet was $ 38 million, the change in accrued wages and taxes was $ 15 million, and the change in accounts payable was $ 20 million. At the beginning of the year the balance of accounts receivable was $ 50 million. Calculate the end-of-year balance for accounts receivable.
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