Statement of Cash Flows Ann\'s Flowers Inc. reported 2008 net income of $1.40 mi
ID: 2619092 • Letter: S
Question
Statement of Cash Flows Ann's Flowers Inc. reported 2008 net income of $1.40 million and depreciation of $254,000. The top part Ann's Flowers, Inc.'s 2007 and 2008 balance sheets is listed below (in millions of dollars).
6.40
5.20
9.92
7.56
What is the 2008 net cash flow from operating activities for Ann's Flower's, Inc.?
$1,400,000
$2,814,000
-$1,200,000
$1,414,000
Current assets: 2007 2008 Current liabilities: 2007 2008 Cash and marketable securities $3.40 $2.20 Accrued wages and taxes $1.04 $1.04 Accounts receivable 4.20 5.40 Accounts payable 3.04 4.20 Inventory6.40
5.20
Notes payable9.92
7.56
Total $14.00 $12.80 Total $14.00 $12.80Explanation / Answer
The Answer is “$2,814,000”
Ann's Flowers Inc
Statement of Cash Flows
For the year ended 2018
Cash flows from operating activities;
Net Income
$1,400,000
Adjustments to reconcile net income to
Net cash provided by operating activities
Add : Depreciation Expenses
254,000
Less : Increase in accounts receivable
(1,200,000)
Add : Decrease in inventories
1,200,000
Add : Increase in Accounts Payables
1,160,000
1,414,000
Net cash flow from operating activities
2,814,000
Ann's Flowers Inc
Statement of Cash Flows
For the year ended 2018
Cash flows from operating activities;
Net Income
$1,400,000
Adjustments to reconcile net income to
Net cash provided by operating activities
Add : Depreciation Expenses
254,000
Less : Increase in accounts receivable
(1,200,000)
Add : Decrease in inventories
1,200,000
Add : Increase in Accounts Payables
1,160,000
1,414,000
Net cash flow from operating activities
2,814,000
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