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2.cengagenow.com/ilrn/takeAssighmenty takeAghertia:okerassighettakeernessiohtocator-assighimet co n Reggae -v.EIGénero 2016 OwhatsApp D Forever 21 Credit Ca stenway57 eBay Dragon Ball Super Talia Santiago a Calculator 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, Year 2 Dec. 31, Year 1 Accounts receivable $11,800 80,200 29,000 27,000 $14,900 71,600 24,000 25,000 Inventory Dividends payable Adjust net income of $114,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.

Explanation / Answer

The correct answer is $ 114,000

Note :

1.

2.

Particulars Amount ($) Net Income 1,14,500 Add: Decrease in Accounts Receivables 3,100 Less: Increase in Inventory -8,600 Add: Increase in Accounts Payable 5,000 1,14,000

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