Sanders Awnings reported net income of $90 million. Included in that number were depreciation expense of...
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Sanders Awnings reported net income of $90 million. Included in that number were depreciation expense of $3 million and a loss on the sale of equipment of $2 million. Records reveal increases in accounts receivable, accounts payable, and inventory of $1 million, $4 million, and $3 million, respectively. Required: What were Sanders' cash flows from operating activities? Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Cash flows from operating activities: Adjustments for noncash effects Changes in operating assets and liabilites Not cash flows from operating activities (S in millions) Sanders Awnings reported net income of $90 million. Included in that number were depreciation expense of $3 million and a loss on the sale of equipment of $2 million. Records reveal increases in accounts receivable, accounts payable, and inventory of $1 million, $4 million, and $3 million, respectively. Required: What were Sanders' cash flows from operating activities? Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Cash flows from operating activities: Adjustments for noncash effects Changes in operating assets and liabilites Not cash flows from operating activities (S in millions)
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