Zwilling Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2

Question:

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

Dec. 31, Year 2 Dec. 31, Year 1

Accounts receivable......................$35,000..................$39,500

Inventory....................................22,500....................18,450

Accounts payable..........................18,500....................16,300

Dividends payable........................43,200....................53,100

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

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...