Victor Corporation's comparative balance sheet for current assets and liabilities was as follows:
|
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Accounts receivable
|
$ 6,500
|
$ 4,900
|
|
Inventory
|
12,300
|
15,000
|
|
Accounts payable
|
4,800
|
5,200
|
|
Dividends payable
|
5,000
|
4,000
|
Adjust net income of $70,000 for changes in operating assets and liabilities to arrive at cash flows from operating activities.