E12-11 (Static) Inferring Balance Sheet Changes from the Cash Flow Statement (Indirect Method) LO12- A recent statement of cash flows for Colgate-Palmolive reported the following information (dollars in millions): $2,554 421 Book Operating Activities Net income Depreciation Cash effect of changes in Receivables Inventories other current assets Payables Other Net cash provided by operations (130) (330) 54 199 (72) $2,896 Print Source: Colgate-Palmolive etetences Required: Based on the information reported on the statement of cash flows for Colgate-Palmolive, determine whether the following accounts increased or decreased during the period: Recelvables, Inventories, Other Current Assets, and Payables. Change Account Recolvables inventories Other current assets Payables