Colgate-Palmolive was founded in 1806. Its statement of cash flows reported the following information (in millions) for the year ended December 31, 2008:

Required:
Based on the information reported in the operating activities section of the statement of cash flows for Colgate-Palmolive, determine whether the following accounts increased or decreased during the period: Accounts Receivable, Inventories, and Accounts Payable.

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Operating Activities Net Income $1,957 Depreciation 348 Cash effect of changes in Accounts Receivable (70) Inventories (135) Accounts Payable Other Net Cash Provided by Operations 125 13 $2,238