A summary of revenues and expenses for Stanton Company for 2002 follows:

Net changes in working capital accounts for 2002 were as follows:

Depreciation on plant and equipment for the year totaled \($600,000;\) 70% was related to manufacturing activities and 30% to general and administrative activities.
Prepare a schedule of net cash provided by (used in) operating activities for the year using the direct method.

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Sales Cost of goods manufactured and sold. Gross profit... Selling, general, and administrative expenses. Income before income taxes Income taxes. Net income $6,000,000 2,800,000 $3,200,000 2,000,000 $1,200,000 520,000 $ 680,000