Huluduey Corporation’s comparative balance sheet for current assets and liabilit

Question

Huluduey Corporation’s comparative balance sheet for current assets and liabilities was as follows:

Dec. 31, Year 2

Dec. 31, Year 1

Adjust net income of $207,590 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required.

Dec. 31, Year 2

Dec. 31, Year 1

Accounts receivable $33,070 $25,790 Inventory 18,440 16,240 Accounts payable 16,690 14,770 Dividends payable 52,190 47,590

Explanation / Answer

Cash flow from Oerating Activities: Net Income $       2,07,590 Adjustments of net income to net cash flows from operating actiivties: Incresae of accounts receivable                -7,280 Incresae of inventory                -2,200 Increase of accounts payable                 1,920 Incresae of dividends payable                 4,600 Net cash provided by Operating activities $       2,04,630

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