Question

N&M Corporation reported the following information for the current year: (1) Net income is $560 million....

N&M Corporation reported the following information for the current year: (1) Net income is $560 million. (2) Sales of assets $26 million. (3) Customer accounts receivable decreased by $14 million. (4) Repurchases of common stock were $20 million. (5) Depreciation expense was $38 million. (6) Income tax payable increased by $4 million. (7) Long-term debt decreased by $13 million. (8) Accounts payable increased by $9 million. (9) Inventories increased by $24 million.

Required: Based on the above information, calculate the following items: Show your working

1. Cash flow from financing activities.

2. The increase or decrease in the cash balance.

Business   Accounting   
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Answer #1

(1) Cash Flow from Financing Activities :-

Repurchases of common stock

20

Long-term debt decreased

(13)

Cash Flow from Financing Activities

7

(2) The increase or decrease in the cash balance:-

Net Income

560

Customer accounts receivable decreased

14

Depreciation

38

Income Tax Payable increased

4

A/c Payable increase

9

Inventory Increased

(24)

Repurchases of common stock

20

Long-term debt decreased

(13)

Cash Increase

608
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