Ramakrishnan, Inc., reported 2021 net income of $20 million and depreciation of $3,400,000. The top part of Ramakrishnan, Inc.’s, 2021 and 2020 balance sheets is reproduced below (in millions of dollars): 2021 2020 2021 2020Current assets: Current liabilities: Cash and marketable securities$25 $26 Accrued wages and taxes$43 $35 Accounts receivable 98 92 Accounts payable 69 60 Inventory 170 144 Notes payable 60 55 Total$293 $262 Total$172 $150

Net cash flow from operating activities represents the net cash inflow and net cash outflow due to…

Answered: Ramakrishnan, Inc., reported 2021 net…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Ramakrishnan, Inc., reported 2021 net income of $20 million and depreciation of $3,400,000. The top part of Ramakrishnan, Inc.’s, 2021 and 2020 balance sheets is reproduced below (in millions of dollars):

	2021		2020	2021		2020
Current assets:							Current liabilities:
Cash and marketable securities	$	25		$	26		Accrued wages and taxes	$	43	$	35
Accounts receivable		98			92		Accounts payable		69		60
Inventory		170			144		Notes payable		60		55
Total	$	293		$	262		Total	$	172	$	150

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