Engineering Wonders reports net income of $63 million. Included in that number is building depreciation expense of $5.3 million and a gain on the sale of land of $1.3 million. Records reveal decreases in accounts receivable, accounts payable, and inventory of $2.3 million, $3.3 million, and $4.3 million, respectively. What are Engineering Wonders' net cash flows from operating activities? (List cash outflows and any decrease in cash as negative amounts. Enter your answer in millions. (i. e., $10,000,000 should be entered as 10).)

70.3

Explanation:

The calculation of net cash flows from operating activities is shown below:-

Engineering Wonders reports

Net cash flow from operating activities

Particulars                                      Amount

Net income                                       63

Adjustment to reconcile net

income to net cash

flow from operating activities

Add: Depreciation expense              5.3

Less: Gain on sale of land                 1.3

Add: Decrease in Accounts

receivable                                           2.3

Less: Decrease in accounts

payable                                                3.3

Add: Decrease in inventory                4.3

Net cash flow from operating

activities                                               70.3

Therefore the net cash flow from operating activities is 70.3.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o