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Required based on the above information calculate the

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A" Company reported the following information:

  1. Net income for the year was $60 million.

  2. Equipment purchases were $5 million.

  3. Customer accounts receivable increased by $6 million.

  4. Dividends paid to common shareholders were $5 million.

  5. Depreciation expense was $16 million.

  6. Income tax payable increased by $2 million.

  7. Long-term debt increased by $14 million.

  8. Accounts payable increased by $3 million.

  9. Inventories increased by $4 million.

  10. Ending cash balance was $80 million.

Required: Based on the above information, calculate the opening cash balance - Required with calculation

Reference no: EM13581187

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