Solution-Find changes in current operating assets

Find changes in current operating assets

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Reference no: EM13509715

Changes in current operating assets and liabilities-indirect method

Phelps Corporation's comparative balance sheet for current assets and liabilities were as follows:

	Dec. 31, 2013	Dec. 31, 2012
Accounts receivable	$22,500	$27,000
Inventory	15,000	12,900
Accounts payable	13,500	11,850
Dividends payable	41,250	44,250

Adjust net income of $240,000 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.

Reference no: EM13509715

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Find changes in current operating assets

Reference no: EM13509715

Reference no: EM13509715

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