26.Fortune Corporations comparative balance sheet for current assets and liabilities was as follows: ...
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Accounting
26.Fortune Corporations comparative balance sheet for current assets and liabilities was as follows:
| Dec. 31, Year 2 | Dec. 31, Year 1 | |
| Accounts receivable | $7,508 | $4,204 |
| Inventory | 11,961 | 14,091 |
| Accounts payable | 4,215 | 5,633 |
| Dividends payable | 4,969 | 3,185 |
Adjust Year 2 net income of $57,588 for changes in operating assets and liabilities to arrive at cash flows from operating activities using the indirect method.
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