ACCT 2301-A business has the following financial information
Question # 00572988
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Updated on: 08/08/2017 10:36 AM Due on: 08/08/2017
Question:1. A business has the following financial information at the end of the year:
Prior year Current year
Net income $750,000
Depreciation expense $150,000
Dividends paid $550,000
Accounts receivable $1,500,000 $2,000,000
Inventory $3,500,000 $2,000,000
Accounts payable $350,000 $500,000
Long term debt $2,300,000 $3,000,000
Common stock $2,200,000 $2,500,000
Retained earnings $6,150,000 $6,350,000
Based on the financial information presented above, determine net cash flow from operating activities for the current year.
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Rating:
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Solution: ACCT 2301-A business has the following financial information