The condensed single-step income statement for the year ended December 31, 20x2, of Gro-More Chem Company, a distributor of farm fertilizers and herbicides, appears as follows:

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Sales $6,500,000 Less: Cost of goods sold $3,800,000 Operating expenses (including depreciation of $410,000) 1,900,000 Income taxes Net income Selected accounts from Gro-More Chem Company's balance sheets for 20x2 and 20x1 are as follows: 200,000 5,900,000 $ 600,000 20x2 20x1 Accounts receivable $1,200,000 $850,000 Inventory 420,000 510,000 Prepaid expenses 130,000 90,000 Accounts payable 480,000 360,000 Accrued liabilities 30,000 50,000 Income taxes payable 70,000 60,000 Present in good form a schedule of cash flows from operating activities using the indi- rect method.