Question: Changes in Current Operating Assets and LiabilitiesIndirect Method Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2

Changes in Current Operating Assets and LiabilitiesIndirect Method

Covington Corporation's comparative balance sheet for current assets and liabilities was as follows:

Dec. 31, Year 2 Dec. 31, Year 1
Accounts receivable $14,300 $12,300
Inventory 58,200 66,900
Accounts payable 24,800 21,600
Dividends payable 24,000 26,000

Adjust net income of $116,400 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. $fill in the blank 1

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