Panenous Corporations comparative balance sheet for current assets and liabilities was as follows: Adjust net income of
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Panenous Corporation’s comparative balance sheet for current assets and liabilities was as follows:
Adjust net income of $351,000 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Transcribed Image Text:
Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $39,490 $31,590 76,340 65,150 Inventory Accounts payable Dividends payable 60,750 45,410 18,000 24,000
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Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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