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Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $19,200 $18,800 Inventory 64,500

Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $19,200 $18,800 Inventory 64,500 65,200 Accounts payable 14,500 13,300 Dividends payable 23,000 22,000 Adjust net income of $99,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activities

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