Question: ADJUSTING NET INCOME FOR CHANGES IN CURRENT ASSETS AND CURRENT LIABILITIES Roberts Company reported net income of $50,000 for 20-2. The December 31 balances of

ADJUSTING NET INCOME FOR CHANGES IN CURRENT ASSETS AND CURRENT LIABILITIES Roberts Company reported net income of $50,000 for 20-2. The December 31 balances of the current assets and current liabilities are shown below.

Compute cash provided by operatingactivities.

20-2 20-1 $10,000 50,000 40,000 Accounts Receivable Merchandise Inventory Accounts Payable Wages Payable $ 6,000 60,000 36,000 24,000 16,000

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