Hi-Tech, Inc., reports net income of $70 million. Included in that number are depreciation expense of $6 million and a loss on the sale of equipment of $2 million. Records reveal increases in accounts receivable, accounts payable, and inventory of $3 million, $4 million, and $5 million, respectively. What are Hi-Tech’s net cash flows from operating activities?
Answer to relevant QuestionsEngineering Wonders reports net income of $70 million. Included in that number is building depreciation expense of $6 million and a gain on the sale of land of $2 million. Records reveal decreases in accounts receivable, ...Video Shack’s accounts receivable decreases during the year by $9 million. What is the amount of cash received from customers during the reporting period if its net sales are $73 million?Wi-Fi, Inc., has the following selected transactions during the year.1. Issues $20 million in bonds. 2. Purchases equipment for $80,000. 3. Pays a $20,000 account payable. 4. Collects a $15,000 account receivable. 5. ...Mega Screens, Inc., reports net sales of $3,200,000, cost of goods sold of $2,000,000, and income tax expense of $150,000 for the year ended December 31, 2015. Selected balance sheet accounts are as ...The income statement for Electronic Wonders reports net sales of $127,245 million and cost of goods sold of $97,529 million. An examination of balance sheet amounts indicates accounts receivable decreased $81 million, ...
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