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ValentinkaMS [17]
3 years ago
11

Portions of the financial statements for Myriad Products are provided below.

Business
1 answer:
pychu [463]3 years ago
6 0

Answer:

MYRIAD PRODUCTS COMPANY

Cash flow from Operating Activities

                                                                               ($ in millions)

Net Income                                                                   $ 113

<u>Adjustment of non-cash items :</u>

Depreciation expense                                                  $72

Patent amortization expense                                         $5

Loss on sale of land                                                        $3

<u>Adjustment to Changes in Working Capital :</u>

Decrease in Accounts receivable                                $14

Decrease in Inventory                                                  $12

Increase in Accounts payable                                      $8

Decrease in Salaries payable                                      ($8)

Increase in Interest payable                                          $7

Increase in Income taxes payable                                $7

Net Cash Provided by Operating Activities              $219

Explanation:

The Indirect method reconciles the Net Income and Operating Cash flow by adjusting for<em> non- cash items</em> and <em>changes in working capital</em> during the year.

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Answer:

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