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25 July, 19:31

Global Satellite Corp. reported net sales of "$550 million" last year and generated a net income of $121.00 million. Last year's accounts receivable increased by $23 million. What is the maximum amount of cash that Global Satellite Corp. received from sales last year?

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  1. 25 July, 19:35
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    The answer is $527million

    Explanation:

    To find cash received sales last year in this question:

    Revenue or sales minus increase in accounts receivable.

    Revenue/sales equals $550million.

    Therefore, cash received from sales last year equal:

    $550 - $23

    = $527million.
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Home » Business » Global Satellite Corp. reported net sales of "$550 million" last year and generated a net income of $121.00 million. Last year's accounts receivable increased by $23 million. What is the maximum amount of cash that Global Satellite Corp.
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