Ritter Corporations accountants prepared the following financial statements for year-end 20X2. a. Determine the change in net
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Ritter Corporation’s accountants prepared the following financial statements for year-end 20X2.
a. Determine the change in net working capital in 20X2.
b. Determine the cash flow during the year 20X2.
Transcribed Image Text:
RITTER CORPORATION Income Statement 20X2 Revenue Expenses Depreciation Net income Dividends $400 250 50 $100 $ 50 RITTER CORPORATION Balance Sheets December 31 20X2 20X1 Assets Current assets $150 $100 Net fixed assets 200 100 Total assets $350 $200 Liabilities and Equity Current liabilities $ 75 $ 50 Long-term debt 75 0 Stockholders' equity 200 150 Total liabilities and equity $350 $200
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