Carla Vista Ltd. reported the following for the fiscal year 2017: CARLA VISTA LTD. Income Statement Year Ended September 30, 2017 Sales $579,000 Cost of goods sold 334,000 Gross profit 245,000 Operating expenses $ 105,000 Depreciation expense 30,000 Gain on sale of land (40,000) 95,000 Profit before income tax 150,000 Income tax expense 37,500 Profit $112,500 Additional information: 1. Accounts receivable decreased by $15,900 during the year. 2. Inventory increased by $7,400 during the year. 3. Prepaid expenses decreased by $5,400 during the year. 4. Accounts payable to suppliers increased by $10,900 during the year. 5. Accrued expenses payable increased by $4,900 during the year. 6. Income tax payable decreased by $6,700 during the year. Prepare the operating activities section of the cash flow statement using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) CARLA VISTA LTD. Cash Flow Statement (Partial) Direct Method