Changes in Current Operating Assets and Liabilities-Indirect Method Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $30,000 $29,200 Inventory 75,800 76,500 Accounts payable 28,000 26,300 Dividends payable 21,000 23,000 Adjust net income of $102,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. $ 102,400 X
Changes in Current Operating Assets and Liabilities-Indirect Method Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $30,000 $29,200 Inventory 75,800 76,500 Accounts payable 28,000 26,300 Dividends payable 21,000 23,000 Adjust net income of $102,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. $ 102,400 X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I need help finding the net income...
![Changes in Current Operating Assets and Liabilities-Indirect Method
Victor Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, 20Y2
Dec. 31, 2OY1
Accounts receivable
$30,000
$29,200
Inventory
75,800
76,500
Accounts payable
28,000
26,300
Dividends payable
21,000
23,000
Adjust net income of $102,600 for changes in operating assets and liabilities to arrive at net cash flow from
operating activities.
$ 102,400 X](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1e43065a-701a-4089-b566-7b64895c40d3%2F106c1f75-0798-4fe8-a27f-b7ed70a2d2bc%2Fccb1pe5_processed.png&w=3840&q=75)
Transcribed Image Text:Changes in Current Operating Assets and Liabilities-Indirect Method
Victor Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, 20Y2
Dec. 31, 2OY1
Accounts receivable
$30,000
$29,200
Inventory
75,800
76,500
Accounts payable
28,000
26,300
Dividends payable
21,000
23,000
Adjust net income of $102,600 for changes in operating assets and liabilities to arrive at net cash flow from
operating activities.
$ 102,400 X
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