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2)Was cash flow from operations greater than or less than net income?

Explain in detail the major reasons for


the differences between these two figures
Alpha Company Beta Company Gamma Company

Net income for a period
+depreciation
+/- gain or loss on disposal
+ provisions
-receivables
-inventory
+ payables
+ unearned reveneus




1989
Net Income < CF operations

1990
Net Income < CF operations

1991
Net Income > CF operations

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