On its income statement for a recent year, Continental Airlines, Inc., reported a net loss of $471
Question:
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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There were net additions to the net loss reported on the income statement to convert the net loss fr...View the full answer
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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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