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.

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

Compute cash provided by operating activities.

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