Question: Watson Corporation's comparative balance sheet for current assets and liabilities was as follows: Adjust net income of $320,000 for changes in operating assets and liabilities

Watson Corporation's comparative balance sheet for current assets and liabilities was as follows:

Dec. 31, 2010 Dec. 31, 2009 Accounts receivable Inventory Accounts payable Dividends

Adjust net income of $320,000 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.

Dec. 31, 2010 Dec. 31, 2009 Accounts receivable Inventory Accounts payable Dividends payable $24,000 49,500 34,500 18,000 $30,000 46,000 14,000

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