Fidelity Systems Reports Net Income of $80 Million

question 27

Essay

Fidelity Systems reports net income of $80 million.Included in that number is depreciation expense of $8 million,and a gain on the sale of equipment of $1 million.Records reveal increases in Accounts Receivable,Inventory,and Accounts Payable of $4 million,$3 million,and $2 million,respectively.Calculate Fidelity's net cash flows from operating activities.

---

Definitions:

Artisan Specialties

Unique crafts or products made by skilled craftspeople, often by hand or using traditional methods.

Big-Game Hunting

Big-game hunting involves the tracking and hunting of large animals, often for food, sport, or traditional cultural practices.

Microlith

Small, often pointed stone tools that were part of the toolkit in prehistoric times, used as spear points or arrowheads.

Blade

A thin, flat edge or surface used for cutting or shaping materials, found in tools such as knives, swords, and blades of grass.