mith Company provided the following information on selected transactions for 2019: Net income $20,000,000 Proceeds from short-term borrowings 1,200,000 Proceeds from long-term borrowings 4,000,000 Purchases of fixed assets 3,200,000 Decrease in inventories 8,000,000 Proceeds from sale of Smith's common stock 2,000,000 Depreciation expense 500,000 What is the net increase in cash for the year ended December 31, 2019, as a result of the preceding information?
mith Company provided the following information on selected transactions for 2019: Net income $20,000,000 Proceeds from short-term borrowings 1,200,000 Proceeds from long-term borrowings 4,000,000 Purchases of fixed assets 3,200,000 Decrease in inventories 8,000,000 Proceeds from sale of Smith's common stock 2,000,000 Depreciation expense 500,000 What is the net increase in cash for the year ended December 31, 2019, as a result of the preceding information?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 14GI: Dunn Company recognized a 5,000 unrealized holding gain on investment in Starbuckss long-term bonds...
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Smith Company provided the following information on selected transactions for 2019:
Net income | $20,000,000 |
Proceeds from short-term borrowings | 1,200,000 |
Proceeds from long-term borrowings | 4,000,000 |
Purchases of fixed assets | 3,200,000 |
Decrease in inventories | 8,000,000 |
Proceeds from sale of Smith's common stock | 2,000,000 |
500,000 |
What is the net increase in cash for the year ended December 31, 2019, as a result of the preceding information?
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