$9.$ Income Statement

Sales $$700,000$

Depreciation $$55,000$

Other Expenses $250,000305,000$

Operating income $395,000$

Gain on sale of investments $15,000$

Net Income $410,000$

Changes in balance sheet accounts: Increase$($Decrease$)$

Cash $$32,000$

Inventories $14,000$

Taxes payable $(6,000)$

Current portion of long$-$term debt $5,000$

Long$-$term debt $15,000$

Pre$-$paid expenses $2,000$

Taxes payable $(2,000)$

Prepare the operating activities section of the SCF for the above business using the indirect method.