hanges in Current Operating Assets and Liabilities–Indirect Method ovington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 ccounts receivable $16,100 $15,500 ventory 62,200 62,900 ccounts payable 20,000 19,200 ividends payable 24,000 22,000 djust net income of $99,200 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
hanges in Current Operating Assets and Liabilities–Indirect Method ovington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 ccounts receivable $16,100 $15,500 ventory 62,200 62,900 ccounts payable 20,000 19,200 ividends payable 24,000 22,000 djust net income of $99,200 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Changes in Current Operating Assets and Liabilities-Indirect Method
Covington Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, 20Y2
Dec. 31, 20Y1
Accounts receivable
$16,100
$15,500
Inventory
62,200
62,900
Accounts payable
20,000
19,200
Dividends payable
24,000
22,000
Adjust net income of $99,200 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
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