Fortune Corporations comparative balance sheet for current assets and liabilities was as follows: Dec....
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Accounting
Fortune Corporations comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, Year 2 Dec. 31, Year 1
Accounts receivable $7,500 $5,200
Inventory 11,500 16,000
Accounts payable 4,300 5,200
Dividends payable 4,000 3,000
Adjust Year 2 net income of $65,000 for changes in operating assets and liabilities to arrive at cash flows from operating activities using the indirect method. $
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