3 The following information have been taken from income statement and balance sheet of Virginia Inc. Income statement Net income: $192,500 Depreciation expense: $62,500 Amortization of intangible assets: $20,000 Gain on sale of equipment: $45,000 Loss on sale of investments: $17,500 Balance sheet: Accounts receivable on January 1, 2017: $190,000 Accounts receivable on December 31, 2017: $167,500 Inventory on January 1, 2017: $287,500 Inventory on December 31, 2017: $251,500 Prepaid expenses on January 1, 2017: $5,000 Prepaid expenses on December 31, 2017: $11,000 Accounts payable on January 1, 2017: $205,000 . . Inventory on December 31, 2017: $251,500 Prepaid expenses on January 1, 2017: $5,000 Prepaid expenses on December 31, 2017: $11,000 Accounts payable on January 1, 2017: $205,000 Accounts payable on December 31, 2017: $189,500 Accrued expenses payable on January 1, 2017: $77,500 Accrued expenses payable on December 31, 2017: $90,000 Accounts payable given above relate to suppliers of merchandise. Using above information, compute net cash flows from operating activities under indirect method. * (T) (2 Points)