Mohammed Corporation's comparative balance sheetfor current assets and liabilities was as follows: Dec.31, 20Y2 Dec. 31, 20Y1 Accounts receivable $28,300 $27,900 Inventory 50, 700 51,400 Accounts payable11,300 10,600 Dividends payable 28, 000 26,000Adjust net income of $117,700 for changes in operatingassets and liabilities to arrive at net cash flow fromoperating activities.

The cash flow statement is a financial statement which shows the inflow and outflow of cash of the…

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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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Question

Mohammed Corporation's comparative balance sheet
for current assets and liabilities was as follows: Dec.
31, 20Y2 Dec. 31, 20Y1 Accounts receivable $28,300 $
27,900 Inventory 50, 700 51,400 Accounts payable
11,300 10,600 Dividends payable 28, 000 26,000
Adjust net income of $117,700 for changes in operating
assets and liabilities to arrive at net cash flow from
operating activities.

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