On its income statement for a recent year, Continental Airlines, Inc. reported a net loss of $68
Question:
On its income statement for a recent year, Continental Airlines, Inc. reported a net loss of $68 million from operations. On its statement of cash flows, it reported $457 million of cash flows from operating activities.
Explain this apparent contradiction between the loss and the positive cash flows.
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There were net additions such as depreciation and amortization of intangible assets of 389 million t...View the full answer
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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