Problem

Inferring Balance Sheet Changes from the Cash Flow Statement (Indirect Method)A recent sta...

Inferring Balance Sheet Changes from the Cash Flow Statement (Indirect Method)

A recent statement of cash flows for Colgate-Palmolive reported the following information (dollars in millions):

Operating Activities

Net income

$1,957.2

Depreciation

347.6

Cash effect of changes in

 

  Receivables

(69.8)

  Inventories

(134.7)

  Other current assets

(31.0)

  Payables

125.2

  Other

43.8

Net cash provided by operations

$2.238.3

Required:

Based on the information reported on the statement of cash flows to for Colgate-Palmolive, determine whether the following accounts increased or decreased during the period: Receivables, Inventories, Other Current Assets. and Payables.

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