Homework answers / question archive / Changes in Current Operating Assets and Liabilities—Indirect Method Covington Corporation's comparative balance sheet for current assets and liabilities was as follows:  Dec

Changes in Current Operating Assets and Liabilities—Indirect Method Covington Corporation's comparative balance sheet for current assets and liabilities was as follows:  Dec

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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, 20Y2Dec. 31, 20Y1Accounts receivable$18,900 $18,100 Inventory50,900 51,600 Accounts payable21,700 19,900 Dividends payable25,000 23,000 

Adjust net income of $106,000 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.