Changes in Current Operating Assets and Liabilities—Indirect MethodCovington Corporation's comparative balance sheet for current assets...
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Accounting
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 | $29,300 | $28,100 | ||
| Inventory | 66,100 | 66,800 | ||
| Accounts payable | 12,200 | 10,500 | ||
| Dividends payable | 22,000 | 20,000 | ||
Adjust net income of $90,900 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
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