Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Changes in Current Operating Assets and LiabilitiesIndirect Method Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2Dec.
Changes in Current Operating Assets and LiabilitiesIndirect Method
Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, 20Y2Dec. 31, 20Y1
Accounts receivable$24,400$24,200
Inventory72,90073,600
Accounts payable21,90020,300
Dividends payable25,00027,000
Adjust net income of $124,700 for changes in operating assets and liabilities to arrive at netcash flow from operating activities.
Answer: $
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