The following financial data were reported by ELR Company for 2021 and 2022 (dollars in millions). ELR Company Balance Sheet (partial) Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities Current ratio Working capital $ 2022 $2,320 The current ratio had 4,524 3,132 812 $10,788 2021 $1,276 3,480 2,668 1,334 Suppose at the end of 2022, ELR management sold $290 million of inventory for $464 million on account. (Round current ratio decimal places, e.g. 1.25:1.) $8,758 $8,932 $6,380 :1 How would the current ratio and working capital have changed? and working capital had

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Cash Flow Statement Analysis

A company's cash flow is the movement of its cash inflows and cash outflows. A cash flow statement is prepared to determine changes in an organization's cash position. A cash flow statement shows how much money was generated and spent on the business during the fiscal year. The cash flow analysis is a method of analyzing an organization's investing, financing, and operating activities. A cash flow statement reveals an organization's liquidity and solvency, as well as its ability to change cash flows in the future. It eliminates the other effects of accounting methods by improving the comparability of different organizations' operational performance.