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eBook Show Me How Question Content Area Changes in Current Operating Assets and LiabilitiesIndirect Method Covington Corporation's comparative balance sheet for current assets and liabilities

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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. 31, 20Y1
Accounts receivable $25,600 $25,200
Inventory 56,600 57,300
Accounts payable 14,700 13,000
Dividends payable 18,000 19,000

Adjust net income of $87,100 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. $fill in the blank 1

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