The accounting records of The Olive Oil Company reveal the following for the month ended August 31, 2020:

Required

Compute cash flows from operating activities by the direct method.

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Acquisition of land... Amortization. . $ 89,000 Loss on sale of land. . $6,000 50,000 Net income. 78,000 Cash sales. 78,000 Payment of accounts payable.. 110,000 Collection of accounts receivable.. 186,000 Payment of dividends . Collection of dividend revenue . Decrease in current liabilities . 25,000 4,000 Payment of income tax.. 8,000 52,000 Payment of interest. Payment of salaries 48,000 and wages. . 14,000 Increase in current assets other than cash . 76,000