Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1 Net income $211,930.00 2Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 4 ncrease
1 Net income $211,930.00 2Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 4 ncrease in accounts receivable 3,670.00 1,090.00 2,170.00 $2600.00 5Increase in inventory Increase in accounts payable 7 Increase in dividends payable Huluduey Corporation's comparative balance sheet for current assets and liabilities was as follows Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable Inventory Accounts payable Dividends payable $31,340 17,180 16,510 51,850 $27,670 16,090 14,340 49,250 Adjust net income of $211,930 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. Refer to the Amount Descriptions list rovided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started