A recent statement of cash flows for Apple contained the following information (dollars in millions): OPERATIONS Net income $ 57,411 Depreciation and amortization 17,573 Changes in operating assets and liabilities: Accounts receivable, net 8,470 Inventories (127) Other current assets (9,588) Accounts payable (4,062) Deferred revenue 2,081 Other current liabilities 8,916 Cash generated by operating activities $80,674 Source: Apple Required: For each of the asset and liability accounts listed on the statement of cash flows, determine whether the account balances increased or decreased during the period.

Q&A Education