Solved

Cyclone Inc Describe How the Change in Accounts Receivable Will Affect the for the Years

Question 41

Essay

Cyclone Inc. reported the following figures from its financial statements for the years 2013 through 2015: 201520142013 Net revenues $717,422$1,110,178$591,786 Gross profit 560,421960,434498,605 Net income (net loss) (92,788)70,77647,811 Cash flow from operations 106,850509,707204,496 Accounts receivable 68,64890,56156,454\begin{array}{l}&\underline { 2015 }& \underline { 2014 } & \underline { 2013 }\\\text { Net revenues } & \$ 717,422 & \$ 1,110,178 & \$ 591,786 \\\text { Gross profit } & 560,421 & 960,434 & 498,605 \\\text { Net income (net loss) } & ( 92,788 ) & 70,776 & 47,811 \\\text { Cash flow from operations } & 106,850 & 509,707 & 204,496 \\\text { Accounts receivable } & 68,648 & 90,561 & 56,454\end{array} Describe how the change in accounts receivable will affect the calculation of cash flow from operating activities for 2015 and 2014.

Correct Answer:

verifed

Verified

In 2015, accounts receivable decreased $...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions