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	$12,200		$15,500
Inventory	77,400		67,300
Accounts payable	18,000		21,400
Dividends payable	21,000		20,000

Adjust net income of $92,700 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.