Alright Corporation reported the following information for the current year. Net income is $55 million. Cash received from sale of buildings was $29 million. Customer accounts receivable decreased by $3 million. Dividends paid to common shareholders were $7 million. Depreciation expense was $11 million. Income tax payable decreased by $11 million. Long-term debt decrease by $18 million. Inventory increased by $6 million. Prepaid expenses increased by $17 million. Calculate cash flow from financing activities.
Alright Corporation reported the following information for the current year. Net income is $55 million. Cash received from sale of buildings was $29 million. Customer accounts receivable decreased by $3 million. Dividends paid to common shareholders were $7 million. Depreciation expense was $11 million. Income tax payable decreased by $11 million. Long-term debt decrease by $18 million. Inventory increased by $6 million. Prepaid expenses increased by $17 million. Calculate cash flow from financing activities.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...
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