Calculate the end-of-year balance for accounts receivable

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Reference no: EM131955799

Question: Chris's Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $380 million. The income statement shows that net income is $355 million and depredation expense is $48 million. During the year, the change in inventory on the balance sheet was $38 million, change in accrued wages and taxes was $18 million and change in accounts payable was $29 million. At the beginning of the year the balance of accounts receivable was $48 million. Calculate the end-of-year balance for accounts receivable (Enter your answer in millions of dollars.)

Reference no: EM131955799

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