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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.

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 $26,500 $25,400
Inventory 78,400 79,100
Accounts payable 16,500 16,300
Dividends payable 30,000 28,000

Adjust net income of $127,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. $_____

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