Sunset Acres reported net income of $66.0 million. Included in that number were trademark amortization expense...

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Sunset Acres reported net income of $66.0 million. Included in that number were trademark amortization expense of $2.5 million and a gain on the sale of land of $1.6 million. Records reveal decreases in accounts receivable, accounts payable, and inventory of $1.4 million, $2.4 million, and $3.4 million, respectively. Required: What were Sunset's cash flows from operating activities? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) ($ in millions) Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Sunset Acres reported net income of $66.0 million. Included in that number were trademark amortization expense of $2.5 million and a gain on the sale of land of $1.6 million. Records reveal decreases in accounts receivable, accounts payable, and inventory of $1.4 million, $2.4 million, and $3.4 million, respectively. Required: What were Sunset's cash flows from operating activities? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) ($ in millions) Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities

Answer rating: 100% (QA)

m Net income 660 Adjustments for non cash effects Trad... View the full answer