Skysong Company's accounts receivable amounted to $118000 at the beginning of fiscal year 2025 and $103200 at the end of theyear, respectively. The company's net income for the year was $463000. Assuming that these are the only required adjustments, whatare the cash flows from operating activities to be reported on the statement of cash flows?O $448200O $566200.O $477800.O $463000.

Accounts Receivable Change:The decrease in accounts receivable (118,000 - 103,200) signifies that…

Answered: Skysong Company's accounts receivable…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 13MCQ

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