Clorox net sales in fiscal 2003 were more than 4 billion

Reference no: EM13601160

Clorox net sales in fiscal 2003 were more than 4 billion and were double the 1997 level, and these operations produced earnings of 514 million. To calculate net earnings, clorox recorded 191 million in depreciation. Other items of revenue and expense not requiring cash increased cash flow from operations by 164 million. Dividends of 193 million were paid during 2003. Among the changes in balance sheet accounts during 2003 were ($ in millions) :

Accounts receivable - 17 d
Inventories - 11 i
Prepaid expenses - 1 i
Accounts payable - 84 d
Income taxes payable - 71 i
Other accrued liabilities - 54 d

Compute the net cash provided by operating activities using te indirect method.

Reference no: EM13601160

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