1. The statement of cash flows for Goal Corporation, a U.S. retailer, for the year ended February 2, 20x2 (fiscal 20x1), showed a net cash inflow from operations of $4,100 million, a net cash outflow for investing of $6,200 million, and a net cash inflow for financing of $3,700 million. The balance sheet at February 3, 20x1, showed a balance in cash of $800 million. Compute the amount of cash on the balance sheet at February 2, 20x2.

Respuesta :

Answer:

$2,400 million

Explanation:

Computation for amount of cash on the balance sheet at February 2, 20x2.

Balance in cash of $800 million

Add net cash inflow from operations $4,100 million

Add net cash inflow for financing $3,700

Less net cash outflow for investing ($6,200 million)

Cash on the balance sheet at FEBRUARY $2,400 million

Therefore the amount of cash on the balance sheet at February 2, 20x2 will be $2,400 million