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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