70.2K
Verified Solution
Link Copied!
At the end of 2018, Pendent Publishing had $75 million in cash. During 2019, the following cash flows occurred:
- Issued debt in the amount of $225 million.
- Fixed assets increased by $453 million.
- Notes payable decreased by $145 million.
- Issued $193 million in common stock.
- Net income was $105 million.
- Accounts receivable decreased by $3 million.
- Inventory increased by $8 million.
- Accounts payable increased by $17 million
- Depreciation was $25 million.
- Paid dividends in the amount of $3 million.
Pendent Publishing had $34 million in cash at the end of 2019.
Answer & Explanation
Solved by verified expert
