Inferring Balance Sheet Changes from the Cash Flow Statement (Indirect Method) A recent statement of cash flows for Colgate Palmolive reported the following information (dollars in millions):
|
Operating Activities |
|
|
Net income |
$1,957.20 |
|
Depreciation |
347.6 |
|
Cash effect of changes in |
|
|
Receivables |
69.8 |
|
Inventories |
134.7 |
|
Other current assets |
31 |
|
Payables |
125.2 |
|
Other |
43.8 |
|
Net cash provided by operations |
$2,238.30 |
Required:
Based on the information reported on the statement of cash flows for Colgate Palmolive, determine whether the following accounts increased or decreased during the period: Receivables, Inventories, Other Current Assets, and Payables.