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, 20Y2	Dec. 31, 20Y1
Accounts receivable	$15,500		$14,700
Inventory	70,400		71,100
Accounts payable	29,300		28,700
Dividends payable	26,000		28,000

Adjust net income of $125,100 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.