Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $20,100 $19,600 Inventory 78,500 79,200 Accounts payable 25,000 24,200 Dividends payable 28,000 26,000 Adjust net income of $119,100 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $20,100 $19,600 Inventory 78,500 79,200 Accounts payable 25,000 24,200 Dividends payable 28,000 26,000 Adjust net income of $119,100 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
Victor Corporation's comparative
| Dec. 31, 20Y2 | Dec. 31, 20Y1 | |||
| $20,100 | $19,600 | |||
| Inventory | 78,500 | 79,200 | ||
| Accounts payable | 25,000 | 24,200 | ||
| Dividends payable | 28,000 | 26,000 |
Adjust net income of $119,100 for changes in operating assets and liabilities to arrive at net
$fill in the blank 1
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