... rulesPlanning Capital Expenditure 295Treatment of Net Work ing CapitalChanges in inventory, accounts receivable, and accounts payable are included in the cash-flow calculation but not in EBT. Changes ... in the company coffers is now owed to the company instead.Thus, an increase in accounts receivable effectively sucks cash out of the com-pany and must be treated as a cash outflow. Increasing ... − Cost of goods sold− Selling, administrative, and general expenses− Advertising− Income tax+ Decrease in inventory (or − increase)+ Decrease in accounts receivable (or − increase)− Decrease...