Question

Sunset Acres reported net income of $53.5 million. Included in that number were trademark amortization expense of $1.9 million and a gain on the sale of land of $3.2 million. Records reveal decreases in accounts receivable, accounts payable, and inventory of $2.9 million, $3.9 million, and $2.9 million, respectively. What were Sunset's cash flows from operating activities? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) ($ in millions) Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities $ 0.0

Answer 1

Cash Flow From Operating Activities

Particulars	Amount ( In Millions)	Amount ( In Millions )
Net Income		$ 53.5
Adjustment for Non Cash Effects;
Amortization Expenses		$ 1.90
Gain on Sale of Land		($ 3.20)
Change in Operating Assets and Liabilities;
Decrease in Accounts Receivable	$ 2.90
Decrease in Accounts Payable	($ 3.90)
Decrease in Inventory	$ 2.90	$ 1.90
Net Cash Flow from Operating Activities		$ 54.10

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