Phelps corporations comparative balance sheet for the

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Phelps Corporation's comparative balance sheet for current assets and liabilities was 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 $138,000 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.

Reference no: EM13453436

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