Changes in Current Operating Assets and Liabilities-Indirect MethodVictor Corporation's comparative balance sheet for current assets and liabilities was as follows:Dec. 31, 20Y2Dec. 31, 2OY1Accounts receivable$30,000$29,200Inventory75,80076,500Accounts payable28,00026,300Dividends payable21,00023,000Adjust net income of $102,600 for changes in operating assets and liabilities to arrive at net cash flow fromoperating activities.$ 102,400 X

Introduction: Statement of cash flows: All cash in and out flows are shown in Statement of cash…

Answered: Victor Corporation's comparative…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 3BE

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Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $30,000 $29,200 Inventory 75,800 76,500 Accounts payable 28,000 26,300 Dividends payable 21,000 23,000