1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
olga_2 [115]
2 years ago
14

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? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
Business
1 answer:
Bess [88]2 years ago
5 0

Answer:

$62 million

Explanation:

Adjustments for non-cash effects:

= Amortization expense - Gain on the sale of land

= $2 million - $1 million

= $1 million

Changes in operating assets and liabilities:

= Decrease in accounts receivable - Decrease in accounts payable + Decrease in inventory

= $2 million - $5 million + $4 million

= $1 million

Net cash flows from operating activities:

= Net income + Adjustments for non-cash effects + Changes in operating assets and liabilities

= $60 million + $1 million + $1 million

= $62 million

You might be interested in
Which of the following statements are examples of labor except:
Dmitry [639]

Answer:

C) a group of church members gather clothes for a clothing drive for the poor in their community.

Explanation:

The stated example is and example of voluntary work, which by most statutes does not count as labor. Although volunteering is technically work, it does not count as labor as volunteers are not paid for what they do. Instead, they do it for an ethical purpose which is not related to getting money. Therefore, volunteers do not coun as the working labor force.

7 0
3 years ago
The UCC requires that HDCs take instruments in good faith. This means that: a.the holders must have performed a special oath bef
guapka [62]

Answer: d.the holders must have acted honestly and observed all reasonable commercial standards of fair dealing.

Explanation:

For an instrument to be negotiable, it should be noted that the UCC requires that such instrument have to be signed by the maker or the drawer.

The UCC requires that HDCs take instruments in good faith. This means that the holders must have acted honestly and observed all reasonable commercial standards of fair dealing.

6 0
3 years ago
What do administrative support careers do? Name three tasks.
ANTONII [103]
1.Computer software
2.Operate fax machines
3.Answer routine letters and email

4 0
2 years ago
Read 2 more answers
ACME Inc.'s contribution margin ratio is 58% and its fixed monthly expenses are $36,000. Assuming that the fixed monthly expense
Elodia [21]

Answer:

$23,740

Explanation:

Given that,

Sales = $103,000

Fixed expenses for the month = $36,000

Contribution margin ratio = 58%

Net operating income:

= (Contribution margin ratio × Sales) - Fixed expenses for the month

= (0.58 × $103,000) - $36,000

= $59,740 - $36,000

= $23,740

Therefore, the best estimate of the company's net operating income in a month when sales are $103,000 is $23,740.

8 0
3 years ago
The service sector is important for all of the following reasons EXCEPT Select one: A. services make an important contribution t
ioda

Answer:

Answer letter C.

Trade in service can provide traditional and new export opportunities

6 0
3 years ago
Other questions:
  • Which of the following is NOT a special power if the senate?
    7·1 answer
  • Consumers are individuals, businesses, or other groups that
    10·1 answer
  • In 1993, when Fischer began his tenure at Kodak, the film industry was evolving from one type of change which was slow to anothe
    8·1 answer
  • In the month of March, Ivanhoe Salon services 550 clients at an average price of $150. During the month, fixed costs were $26,88
    9·1 answer
  • Suppose the inflation premium is 2 percent and the nominal interest rate is 1 percent. Instructions: In part a, enter your answe
    13·1 answer
  • Currently, at a price of $1 each, 100 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity
    11·1 answer
  • Which one of the following statements is correct? A) The lessor is primarily concerned with returning the asset at the end of th
    9·1 answer
  • Innovative Tech Inc. (ITI) has been using the percentage of credit sales method to estimate bad debts. During November, ITI sold
    6·1 answer
  • A commodity is something with cash value that can be bought or sold.<br> true or false
    7·2 answers
  • Assuming no change in the nominal wage and a significant increase in human capital, the output per worker will
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!