CASH FLOWS FROM OPERATIONS, DIRECT METHOD. Colassard Industries has the following data available for preparation of its statement of cash flows:

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Sales revenue Cost of goods sold $345,000 Inventory, increase 9,700 182,500 Prepaid insurance, increase 6,100 Wages expense 34,400 Accounts payable, increase 11,600 Insurance expense 12,000 Short-term notes payable, increase 32,000 Interest expense 20,800 Interest payable, increase 5,000 Income taxes expense 16,200 Wages payable, decrease 5,400 Accounts receivable, decrease 14,300 REQUIRED: Prepare the cash flows from operations section of the statement of cash flows, using the direct method.