QUESTION 21 Not yet answered Marked out of 2.00 Flag question Question text In i
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QUESTION 21
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In its fiscal 2016 annual report, Nike, Inc. reported cash of $3,138 million at year end. The statement of cash flows reports the following (in millions):
Net cash from operating activities
$3,096
Net cash from investing activities
(1,034
)
Net cash from financing activities
(2,776
)
What was the balance in Nike's cash account at the start of fiscal 2016?
Select one:
A. $3,096 million
B. $1,020 million
C. $3,852 million
D. $4,357 million
E. None of the above
Net cash from operating activities
$3,096
Net cash from investing activities
(1,034
)
Net cash from financing activities
(2,776
)
Explanation / Answer
Cash flow at beginning of financial year + Cash flow from operating activities + Cash flow from investment activities + Cash flow from financing activities = Cash flow at end of Fiscal year
Cash flow at beginning of financial year = -3096 + 1034 + 2776 + 3138 = 3852
Option c is correct
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