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29 October, 13:41

Exeter Enterprise Inc. reported net sales of $250 million last year and generated a net income of $55.00 million. Last year's accounts receivable increased by $35 million. What is the maximum amount of cash that Exeter Enterprise Inc. received from sales last year?

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  1. 29 October, 14:52
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    The maximum amount of cash that Exeter Enterprise Inc. received from sales last year is $20 million

    Explanation:

    Net Income = $55 million

    Increase in receivable = $35 million

    Net Sales = $250 million

    Cash Received from sales = Net Income - increase in receivables

    Cash Received from sales = $55 million - $35 million

    Cash Received from sales = $20 million

    The maximum amount of cash that Exeter Enterprise Inc. received from sales last year is $20 million
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Home » Business » Exeter Enterprise Inc. reported net sales of $250 million last year and generated a net income of $55.00 million. Last year's accounts receivable increased by $35 million. What is the maximum amount of cash that Exeter Enterprise Inc.
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