Changes in Current Operating Assets and LiabilitiesIndirect Method

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

	Dec. 31, Year 2		Dec. 31, Year 1
Accounts receivable	$24,800		$29,900
Inventory	61,200		53,200
Accounts payable	21,100		18,200
Dividends payable	23,000		24,000

Adjust net income of $111,100 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.