Fidelity Systems reports net income of $80 million. Included in that number is d

Question

Fidelity Systems reports net income of $80 million. Included in that number is depreciation expense of $9 million, and a gain on the sale of equipment of S$2 million. Records reveal increases in Accounts Receivable, Inventory, and Accounts Payable of $3 million, $3 million, and $3 million, respectively. Calculate Fidelity's net cash flows from operating activities using the indirect method. (Negative value should be indicated by minus sign. Enter your answer in millions.) Net cash flows from operating activites million

Explanation / Answer

Net income 80 Add:depreciation 9 Less:gain on sale of equipment (2) Less:Increase in AR (3) Less:increase in inventory (3) Add:increase in AP 3 Net cash flow from operating activities $84 million.

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.