Operating Cash Flows Davis Enterprises reported net income for the year of $324,000 and paid cash dividends of $40,000. Included in net income was interest expense of $3,500, wage expense of $112,000, depreciation expense of $68,000, and cost of goods sold of $667,000. The company’s income also included a loss of $7,000 on the sale of land and a gain of $10,000 on the sale of investments. During the year, the company’s inventory increased $4,500, its accounts receivable increased $15,000, and its accounts payable decreased $7,200. The company’s net income had been reduced by income taxes of $85,000. The balance of income taxes payable at the end of the year was $6,000 less than at the beginning of the year. Compute the amount of cash Davis Enterprises generated from its operations.