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  1. business
  2. accounting
  3. firebird corp reported net income of $100 million.

Firebird Corp reported net income of $100 million. Within net income, Firebird had received $6...

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Accounting

Firebird Corp reported net income of $100 million. Within net income, Firebird had received $6 million in dividends and $3 million in interest. Firebird issued $60 million worth of common stock and $30 million in convertible bonds throughout the year. Land was sold at $30 million with a gain of $7 million. Firebird bought equipment in the amount of $4 million. Depreciation expense for the year was recorded at $5 million for the year. Increases in accounts receivable, accounts payable, and inventory were $2 million, $5 million, and $4 million, respectively. What are Firebirds cash flows from operating activities if the enacted tax rate is 40%?

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