
Chartered Financial Analyst Level 1
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An analyst gathers the following year-end information from a company's financial statements:
Year 2:
- Accounts receivable: €3 million
- Accounts payable: €2 million
Year 1:
- Accounts receivable: €1 million
- Accounts payable: €5 million
Given that Year 2 net income is €3 million and the Year 1 ending cash balance is €10 million, what is the Year 2 ending cash balance?
An analyst gathers the following year-end information from a company's financial statements:
Year 2:
- Accounts receivable: €3 million
- Accounts payable: €2 million
Year 1:
- Accounts receivable: €1 million
- Accounts payable: €5 million
Given that Year 2 net income is €3 million and the Year 1 ending cash balance is €10 million, what is the Year 2 ending cash balance?
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