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Homework answers / question archive / Statement of Cash Flows Cloe's Costumes, Inc

Statement of Cash Flows Cloe's Costumes, Inc

Accounting

Statement of Cash Flows Cloe's Costumes, Inc. has net cash flows from operating activities for the last year of $244 million. The income statement shows that net income is $150 million and depreciation expense is $85 million. During the year, the change in inventory on the balance sheet was a decrease of $14 million, change in accrued wages and taxes was a decrease of $15 million and change in accounts payable was a decrease of $10 million. At the beginning of the year the balance of accounts receivable was $45 million. What was the end of year balance for accounts receivable?

 

$20 million

 

$25 million

 

$45 million

 

$65 million

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