Calculate the end-of-year balance for accounts receivable

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Reference no: EM131197598

Chris’s Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $390 million. The income statement shows that net income is $365 million and depreciation expense is $49 million. During the year, the change in inventory on the balance sheet was $39 million, change in accrued wages and taxes was $19 million, and change in accounts payable was $30 million. At the beginning of the year, the balance of accounts receivable was $49 million.

Calculate the end-of-year balance for accounts receivable. (Enter your answer in millions of dollars.)

Accounts receivable $ ? m

Reference no: EM131197598

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Calculate the end-of-year balance for accounts receivable : Chris’s Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $390 million. The income statement shows that net income is $365 million and depreciation expense is $49 million. Calculate the end-of-year balance for..

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