On its income statement for a recent year, Continental Airlines, Inc., reported a net loss of $471
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On its income statement for a recent year, Continental Airlines, Inc., reported a net loss of $471 million from operations. On its statement of cash flows, it reported $1,241 million of cash flows from operating activities.
Explain this apparent contradiction between the loss and the positive cash flows.
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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