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Adjusting Net Income for Changes in Current Assets and Current Liabilities Roberts Company reported net income of $50,000 for 20-2. The December 31 balances of
Adjusting Net Income for Changes in Current Assets and Current Liabilities
Roberts Company reported net income of $50,000 for 20-2. The December 31 balances of the current assets and current liabilities are shown below.
| 20-2 | 20-1 | ||||
| Accounts Receivable | $6,000 | $10,000 | |||
| Merchandise Inventory | 60,000 | 50,000 | |||
| Accounts Payable | 36,000 | 40,000 | |||
| Wages Payable | 24,000 | 16,000 | |||
Compute cash provided by operating activities.
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