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Changes in Current Operating Assets and LiabilitiesIndirect Method Covington Corporation's comparative balance sheet for current...

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Accounting

Changes in Current Operating Assets and LiabilitiesIndirect Method

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

Dec. 31, 20Y2 Dec. 31, 20Y1

Accounts receivable. $17,400 $16,900

Inventory 50,300 51,000

Accounts payable 19,000 17,900

Dividends payable 17,000 18,000

Adjust net income of $83,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.

$

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