Bramble Corp. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Bramble Corp. for 2022 and 2021 are provided below.

BALANCE SHEETS
						12/31/22					12/31/21
	Cash					$407000					$ 194000
	Accounts receivable					360000					217000
	Inventory					385000					481000
	Property, plant and equipment		$610000					$959000
	Less accumulated depreciation		(319000	)		291000		(302000	)		657000
						$1443000					$1549000
.
	Accounts payable					$ 176000					$ 94000
	Income taxes payable					350000					394000
	Bonds payable					362000					599000
	Common stock					195750					215000
	Retained earnings					359250					247000
						$1443000					$1549000

INCOME STATEMENT For the Year Ended December 31, 2022
	Sales revenue								$8420000
	Cost of sales								7152000
	Gross profit								1268000
	Selling expenses						$599000
	Administrative expenses						193000		792000
	Income from operations								476000
	Interest expense								73000
	Income before taxes								403000
	Income taxes								100750
	Net income								$ 302250

The following additional data were provided:

	1.	Dividends for the year 2022 were $190000.
	2.	During the year, equipment was sold for $240000. This equipment cost $354000 originally and had a book value of $291000 at the time of sale. The loss on sale was incorrectly charged to cost of sales.
	3.	All depreciation expense is in the selling expense category.

Under the direct method, the cash received from customers is

$8420000.

$8464000.

$8563000.

$8277000.