eBook Show Me How Print Item Changes in Current Operating Assets and Liabilities Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable. $29,000 $23,800 Inventory 50,700 57,000 Accounts payable 10,000 11,800 Dividends payable 15,000 16,000 Adjust net income of $73,400 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.