Burke Landscaping Company had the following information available for the year ended June 30, 2009:

Burke Landscaping Company reported net income of $675,000 for the year ended June 30, 2009. Depreciation expense, included on the income statement, was $60,500.

Requirement
Assume that the preceding information is all the information relevant to the statement of cash flows. Use the indirect method to prepare the cash flows from operating activities section of Burke Landscaping Company€™s statement of cash flows for the year ended June 30,2009.

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Accounts receivable Prepaid insurance Inventory July 1, 2008 $356,000 76,000 132,000 June 30, 2009 $302,000 32,000 142,000