Miss Ella’s Learning Center has assembled the following data for the year ended June 30, 2016:
Payments to suppliers ..........$ 118,000
Cash payment for purchase of equipment.... 38,000
Payments to employees........... 67,000
Payment of notes payable.......... 26,000
Payment of dividends.......... 6,500
Cash receipt from issuance of stock....... 15,000
Collections from customers......... 184,000
Cash receipt from sale of land....... 60,000
Cash balance, June 30, 2015........ 39,000
Prepare the operating activities section of the business’s statement of cash flows for the year ended June 30, 2016, using the direct method.