Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2.
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Question:
Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, Year 2. Dec. 31, Year 1 Accounts receivable. $33300. $28,500
Inventory. 67,200 77,200
Accounts payable 20,100 23,900
Dividends payable 25,000 23,000
Adjust net income of $102,500 for changes in operating assets and liabilities to arrive at netcash flow from operating activities.
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