Orphan Annie's Clothes Emporium, Inc. has net cash flows from operating activities for the last...
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Orphan Annie's Clothes Emporium, Inc. has net cash flows from operating activities for the last year of $90 million. The income statement shows that net income is $83 million and depreciation expense is $12 million. During the year, the change in inventory on the balance sheet was $10 million, change in accrued wages and taxes was $4 million and change in accounts payable was $5 million. At the beginning of the year the balance of accounts receivable was $13 million. Calculate the end of year balance for accounts receivable.
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