Tom and Clancy Partners reported a profit of $76000 for the year. The statement of profit or loss also showed depreciation expense of $8000 and a loss on the sale of a motor vehicle of $2000. The statement of financial position showed an increase in accounts receivable of $5000 for the year, a decrease in inventory of $3000 and an increase in accounts payable of $4000.

Required
Prepare a reconciliation of profit to cash flows from operating activities using the indirect method as illustrated in the chapter.