What is Avett Inc.'s 2020 Cash Flows from Operating Activities? Question 13 options: Increase of $1,548 Increase of $148 Decrease of $1,548 Increase of $1,648 CONSOLIDATED BALANCE SHEET(in millions)Year EndingDec. 3120202019ASSETSCash and Cash Equivalents$1,000$800Accounts Receivable300500Merchandise Inventory880650Short Term Investments145120TOTAL CURRENT ASSETS2,3252,070PP&E, net accumulated depreciation of$600 in 2020 and $500 in 20191,2501,000TOTAL ASSETS$3,575$3,070LIABILITIESAccounts PayableOther Payables$530$500410362TOTAL CURRENT LIABILITIES940862Mortgage PayableLong-Term Bank Loan700900850TOTAL LIABILITIES1,8402,412OWNERS EQUITYCommon Stock8070Preferred StockAdditional Paid in CapitalRetained EarningsTOTAL OWNERS EQUITY2902501,3651,735338658TOTAL LIABILITIES + OWNERS EQUITY$3,575$3,070 CONSOLIDATED INCOME STATEMENT(in millions)December 31, 2020$20,000(10,000)(10,000)(8,000)2,000(500)$1,500RevenuesCost of Goods SoldProfit MarginSG&APre-Tax IncomeТах ExpenseNet IncomeAdditional Information> No Property, Plant & Equipment (PPE) was sold during 2020.> No short-term investments were sold during the year.> All depreciation expense is included in SG&A> Because there is no dividends payable account at either the start of end of the year, you mayassume all dividends declared in 2020 were paid in 2020.Тo Do> Complete the 2020 Cash Flow Statement on the following page.Note: You may use the worksheet provided on the last page to help you prepare the Cash Flow Statement.Hint #1 PPE: Remember to evaluate changes in gross PPE separate from changes in accumulateddepreciation. Recall gross PPE less accumulated depreciation equals net PPE.Hint #2 Stock Issuance: Remember the total change in cash due to stock issuances/repurchases is the sumof the change in common stock (stated par value) and additional paid in capital (APIC).

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Answered: What is Avett Inc.'s 2020 Cash Flows…

What is Avett Inc.'s 2020 Cash Flows from Operating Activities? Question 13 options: Increase of $1,548 Increase of $148 Decrease of $1,548 Increase of $1,648

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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