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

Payment of interest $10,000 Collection of accounts receivable $190,000 Cash sales 50,000 Payment of salaries and wages 57,000 Receipt of dividend Depreciation expense 16,000 revenue 18,000 Proceeds from disposal of Payment of income taxes 16,000 plant assets 12,000 Net income 38,000 Purchase of equipment for cash 22,000 Payment of accounts payable Loss on disposal of plant assets 3,000 for merchandise 115,000 Payment of dividends 14,000 Payment for land 74,000 Payment of operating expenses 28,000 Instructions Prepare the cash flows from operating activities section using the direct method. (Not all of the items will be used.)