Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $18,400 $22,200 Inventory 76,700 67,900 Accounts payable 12,400 15,500 Dividends payable 24,000 22,000 Adjust net income of $101,600 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, Year 2 Dec. 31, Year 1 Accounts receivable $18,400 $22,200 Inventory 76,700 67,900 Accounts payable 12,400 15,500 Dividends payable 24,000 22,000 Adjust net income of $101,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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