4. PE.16-03.ALGO (Algorithmic) Changes in Current Operating Assets and Liabilities-Indirect Method Covington Corporation's comparative balance sheet for current assets and liabilities was as follows Dec. 31, Year 2 Dec. 31, Year 1 Page 2 of 3 Accounts receivable 16,500 Inventory Accounts payable Dividends payable 44,200 22,400 30,000 $13,600 51,400 27,600 28,000 Adjust net income of $125,100 for changes in operating assets and liabilities to arrive at net cash flow from operating activities