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Fortune Corporation's Comparative Balance Sheet for Current Assets and Liabilities

Question 127

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Fortune Corporation's comparative balance sheet for current assets and liabilities was as follows: Fortune Corporation's comparative balance sheet for current assets and liabilities was as follows:   Adjust Year 2 net income of $65,000 for changes in operating assets and liabilities to arrive at cash flows from operating activities using the indirect method. Adjust Year 2 net income of $65,000 for changes in operating assets and liabilities to arrive at cash flows from operating activities using the indirect method.

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