Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $16,000 $15,200 Inventory 74,400 75,100 Accounts payable 25,800 24,900 Dividends payable 15,000 16,000 Adjust net income of $74,100 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $16,000 $15,200 Inventory 74,400 75,100 Accounts payable 25,800 24,900 Dividends payable 15,000 16,000 Adjust net income of $74,100 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Changes in Current Operating Assets and Liabilities—Indirect Method
Mohammed Corporation's comparative
| Dec. 31, 20Y2 | Dec. 31, 20Y1 | |||
| $16,000 | $15,200 | |||
| Inventory | 74,400 | 75,100 | ||
| Accounts payable | 25,800 | 24,900 | ||
| Dividends payable | 15,000 | 16,000 |
Adjust net income of $74,100 for changes in operating assets and liabilities to arrive at net
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