Colgate-Palmolive was founded in 1806. Its statement of cash flows reported the following information (in millions) for the nine months ended September 30, 2016:

Required:

Based on the information reported in the operating activities section of the statement of cash flows for Colgate-Palmolive, indicate whether the following accounts increased (I) or decreased (D) during the period: 

(a) Accounts Receivable, 

(b) Inventories, and 

(c) Accounts Payable.

Transcribed Image Text:

Operating Activities $1,960 Net Income Depreciation Cash effect of changes in 330 (125) Accounts Receivable Inventories Accounts Payable 100 Other Net Cash Provided by Operations $2,320