Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $10,000 $12,500 Inventory 71,600 62,300 Accounts payable 21,100 17,400 Dividends payable 27,000 25,000 Adjust net income of $113,800 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.

Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $10,000 $12,500 Inventory 71,600 62,300 Accounts payable 21,100 17,400 Dividends payable 27,000 25,000 Adjust net income of $113,800 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4PB

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