Below are accounting items taken from the records of Paul Company for 2015. Use US GAAP to prepare only the operating activities section of Paul Company’s 2015 statement of cash flows using the indirect method (not all the items belong in the operating activities section).

Payment of dividends	$4000	Net income	$40,000
Increase in accounts payable	$19,000	Payment for purchase of land and buildings	$60,000
Increase in account receivable	$15,000	Issuance of ten-year notes payable	$50,000
Decrease in inventories	$14,000	Depreciation expense	$10,000
Decrease in salaries payable	$6,000	Loss on sale of delivery vehicle	$1,000