Changes in Current Operating Assets and LiabilitiesIndirect Method

Victor Corporation's comparative balance sheet for current assets and liabilities was as follows:

Dec. 31, Year 2Dec. 31, Year 1Accounts receivable$19,000$16,700Inventory49,60057,000Accounts payable11,70010,000Dividends payable28,00026,000

Adjust net income of $117,300 for changes in operating assets and liabilities to arrive at netcash flow from operating activities.

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