A company reports the following operating cash flows on its statement of cash flows (in millions): Required
Question:
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
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a Accounts receivable increased b I...View the full answer
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