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What is the amount of cash received under the direct method

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The following financial data was obtained from Tile Corp's most recent fiscal year-end.

Net sales .........................................................320000000

Issuance of preferred stock .............5000000

Decrease in accounts payable..............11000000

Increase in accounts receivables ...........60000000

Increase in unearned revenue....................7000000

Increase in inventories............19000000

sale of trade securities ................2000000

Problem 1: What is the amount of cash received under the direct method used in the operating cash flow calculations?

Option 1: 244000000

Option 2: 260000000

Option 3: 267000000

Option 4: 269000000

Reference no: EM132885179

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