Question

Nordstrom, Inc., the Seattle-based fashion retailer, had the following income statement for the year ended January 28, 2012 ($ in millions):


The company’s net cash provided by operating activities, prepared using the indirect method, was as follows ($ in millions):
Net earnings ................... $ 683
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation, amortization, and other noncash expenses.... 488
Changes in
Accounts receivable ................. (98)
Merchandise inventories ............... (137)
Accounts payable ................. 54
Accrued salaries, wages, and related benefits ...... 6
Other liabilities .................. 181
Net cash provided by operating activities.........$1,177
Prepare a statement showing the net cash provided by operating activities using the direct method. Assume that accrued salaries, wages, and related benefits and other liabilities relate to selling, general, and administrative expenses, as do all components of depreciation, amortization, and other noncash expenses.


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  • CreatedFebruary 20, 2015
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