Calculate end-of-year balance for accounts receivable

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Reference no: EM131308159

Chris’s Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $450 million. The income statement shows that net income is $425 million and depreciation expense is $55 million. During the year, the change in inventory on the balance sheet was $45 million, change in accrued wages and taxes was $25 million, and change in accounts payable was $36 million. At the beginning of the year, the balance of accounts receivable was $55 million. Calculate the end-of-year balance for accounts receivable.

Reference no: EM131308159

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