Madonna Ltd reported profit of $200 000 for 2015. Madonna Ltd also reported depreciation expense of $35 000 and a loss of $5000 on the sale of equipment. The statement of financial position shows an increase in accounts receivable of $15 000 for the year, an $8000 increase in accounts payable, and a $5000 increase in prepaid expenses. 

Required

Prepare the operating activities section of the statement of cash flows, using the indirect method.