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.

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Phelps corporations comparative balance sheet for the : phelps corporations comparative balance sheet for current assets and liabilities was as followsnbsp nbsp nbsp nbsp nbsp

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