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1 OneLogin X B Roster - ACG2011 PRI X _ My Home X CengageNOWv2 | Onl X + X F C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssign... D . . . Ch 16-2 Practice Exercises ebook Show Me How Calculator Print Item 1. PE.16-01A Changes in Current Operating Assets and Liabilities-Indirect Method 2. PE.16-01B Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 3. PE.16-02.ALGO Accounts receivable $14,400 $17,400 Inventory 71,500 63,300 4. PE.16-03.ALGO Accounts payable 14,500 12,200 5. PE.16-04.ALGO Dividends payable 26,000 24,000 Adjust net income of $108,700 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. 6. PE.16-05.ALGO $ 111,600 X Feedback Check My Work Once you have calculated the changes in the current operating assets and liabilities determine what impact those changes would have on cash. For example if accounts receivable has increased from last year to this year does that mean the company has collected more cash or less cash? If accounts payable has decreased does that mean the company has more cash or less cash? Progress: 4/6 items Check My Work 1 more Check My Work uses remaining. Previous Next Assignment Score: 47.22% All work saved. Email Instructor Save and Exit Submit Assignment for Grading 4 3:00