The 2014 accounting records of Rogan Transport reveal these transactions and events.

Payment of interest $ 10,000 Payment of salaries and wages $ 53,000 Cash sales 48,000 Depreciation expense 16,000 Receipt of dividend revenue 18,000 Proceeds from sale of vehicles 812,000 Payment of income taxes 12,000 Purchase of equipment for cash 22,000 Net income 38,000 Loss on sale of vehicles 3,000 Payment for merchandise 97,000 Payment of dividends 14,000 Payment for land 74,000 Payment of operating expenses 28,000 Collection of accounts receivable 195,000 Instructions Prepare the cash flows from operating activities section using the direct method.

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