During 20x4, Cheng Corporation had a net income of $72,000. Included on its income statement were depreciation expense of $8,000 and amortization expense of $900.

During the year, Accounts Receivable decreased by $4,100, Inventories increased by

$2,700, Prepaid Expenses decreased by $500, Accounts Payable decreased by $7,000, and Accrued Liabilities decreased by $850. Use the indirect method to determine net cash flows from operating activities.L01