Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $13,500 $16,300 Inventory 82,700 71,900 Accounts payable 29,600 24,700 Dividends payable 19,000 18,000 Adjust net income of $80,800 for changes in operating assets and liabilities to arrive at net cash flows from operating activitie
Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $13,500 $16,300 Inventory 82,700 71,900 Accounts payable 29,600 24,700 Dividends payable 19,000 18,000 Adjust net income of $80,800 for changes in operating assets and liabilities to arrive at net cash flows from operating activitie
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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Question
Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows:
| Dec. 31, Year 2 | Dec. 31, Year 1 | |||
| Accounts receivable | $13,500 | $16,300 | ||
| Inventory | 82,700 | 71,900 | ||
| Accounts payable | 29,600 | 24,700 | ||
| Dividends payable | 19,000 | 18,000 |
Adjust net income of $80,800 for changes in operating assets and liabilities to arrive at net
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