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26.Fortune Corporations comparative balance sheet for current assets and liabilities was as follows: ...

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Accounting

26.Fortune Corporations comparative balance sheet for current assets and liabilities was as follows:

Dec. 31, Year 2 Dec. 31, Year 1
Accounts receivable $7,508 $4,204
Inventory 11,961 14,091
Accounts payable 4,215 5,633
Dividends payable 4,969 3,185

Adjust Year 2 net income of $57,588 for changes in operating assets and liabilities to arrive at cash flows from operating activities using the indirect method.

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