Question: Barney s Franks has net cash flows from operating activities for the last year of $ 2 1 million. The income statement shows that net

Barneys Franks has net cash flows from operating activities for the last year of $21 million. The income statement shows that net income is $25 million and depreciation expense is $7 million. During the year, the change in inventory on the balance sheet was an increase of $6 million, change in accrued wages and taxes was an increase of $2 million and change in accounts payable was an increase of $2 million. At the beginning of the year the balance of accounts receivable was $7 million. What was the end-of-year balance for accounts receivable?

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