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 $24,500 $23,400 Inventory 79,300 80,000 Accounts payable 28,600 27,900 Dividends payable 20,000 19,000 Adjust net income of $86,400 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.

Changes in Current Operating Assets and Liabilities-Indirect.Method Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Adjust net income of $86,400 for changes in operating assets and liabilities to arrive at net cash flow from operating activities