Ashraf-Uz-Zaman, a credit analyst, at UMB Bank reviewing loan application of Papri, Inc. Zaman was wondering whether Papri, Inc.'s cash flow from operation is strong enough toapprove $5,000,000 business loan.

Exhibit 3
Papri, Inc.
Selected data as of December 31
	2022	2023
Cash receipts of dividends	$100	$115
Purchases of inventories	1,200	1,380
Dividends paid to stockholders	500	575
Cash payment of interest	300	345
Proceeds from new bank loan	1,500	1,725
Proceeds from sale of equipment	275	316
Purchase of building	2,500	2,875
Collections from customers	3,000	3,450
Retirement of debt	750	863
Cash payments of expenses	500	575
Exhibit 4
Papri, Inc.
Selected data as of December 31
	2022	2023
Sales	$1,830	$2,008
Cost of goods sold	$1,200	$1,380
Depreciation	150	173
Interest expense	75	86
Gain on sale of old machine	10	12
Taxes	45	52
Net Income	547	329
Increase in accounts receivable	85	102
Decrease in inventory	60	72
Increase in accounts payable	35	42

Using Exhibit 4, Zaman calculated the cash flow from operation (CFO) using the direct method of cash flow for 2022 close to: