Practice Questions 1. Your are given the following comparative Balance Sheet of M/s. Damodar Ltd., Particulars December 31st. 2008 2007 Assets Cash 4,700 3,000 Accounts Receivable 11,500 12,000 Land 6,600 5,000 Inventories 9,000 8,000 31,800 28,000 Liabilities Accounts Payable 4,500 7,000 Capital 25,000 20,000 Retained Earnings 2,300 1,000 31,800 28,000 You required to prepare statement showing the changes in working capital