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    Polytechnic State University Sanluis
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Category > Accounting Posted 28 Apr 2017 My Price 2.00

Indirect method

Indirect method

Sunset Acres reported net income of $60 million. Included in that number were trademark amortization expense of $2 million and a gain on the sale of land of $1 million. Records reveal decreases in accounts receivable, accounts payable, and inventory of $2 million, $5 million, and $4 million, respectively. What were Sunset’s cash flows from operating activities?

 

 

 

Answers

Alpha Geek
(8)
Status NEW Posted 28 Apr 2017 05:04 PM My Price 2.00

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file 1493399208-Answer.docx preview (79 words )
I-----------ndi-----------rec-----------t m-----------eth-----------od ----------- Su-----------nse-----------t A-----------cre-----------s r-----------epo-----------rte-----------d n-----------et -----------inc-----------ome----------- of----------- $6-----------0 m-----------ill-----------ion-----------. I-----------ncl-----------ude-----------d i-----------n t-----------hat----------- nu-----------mbe-----------r w-----------ere----------- tr-----------ade-----------mar-----------k a-----------mor-----------tiz-----------ati-----------on -----------exp-----------ens-----------e o-----------f $-----------2 m-----------ill-----------ion----------- an-----------d a----------- ga-----------in -----------on -----------the----------- sa-----------le -----------of -----------lan-----------d o-----------f $-----------1 m-----------ill-----------ion-----------. R-----------eco-----------rds----------- re-----------vea-----------l d-----------ecr-----------eas-----------es -----------in -----------acc-----------oun-----------ts -----------rec-----------eiv-----------abl-----------e, -----------acc-----------oun-----------ts -----------pay-----------abl-----------e, -----------and----------- in-----------ven-----------tor-----------y o-----------f $-----------2 m-----------ill-----------ion-----------, $-----------5 m-----------ill-----------ion-----------, a-----------nd -----------$4 -----------mil-----------lio-----------n, -----------res-----------pec-----------tiv-----------ely-----------. W-----------hat----------- we-----------re -----------Sun-----------set-----------’-----------s c-----------ash----------- fl-----------ows----------- fr-----------om -----------ope-----------rat-----------ing----------- ac-----------tiv-----------iti-----------es?----------- Â----------- An-----------swe-----------r -----------Net----------- In-----------com-----------e $-----------60 -----------Adj-----------ust-----------men-----------ts -----------for----------- no-----------n
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