doriswei92
Nov 29, 2009, 02:57 AM
ADP, Inc. began the year 2004 with $145 million in cash. During 2004, ADP earned net income of $395 million, and adjustments to reconcile net income to net cash provided by operations totaled $2330 million, a positive amount. Investing activities used cash of $3140m, and financing activities provided cash of $420m. ADP ended 2004 with total assets of $15195m and total liabilities of $10550m.
Prepare ADP, Inc.'s statement of cash flows for the year ended Dec 31, 2004.
(The answer in the ans sheet stated the ending cash balance is $150 million, but my answer was $1770m).
So how should get it right?
Prepare ADP, Inc.'s statement of cash flows for the year ended Dec 31, 2004.
(The answer in the ans sheet stated the ending cash balance is $150 million, but my answer was $1770m).
So how should get it right?