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	$22,900		$21,700
Inventory	75,400		76,100
Accounts payable	20,100		19,700
Dividends payable	17,000		16,000

Adjust net income of $73,200 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. $