Cash Flow Statement$-$Operating Activities

The Garfield Ltd company uses the indirect method for preparing its statement of cash

flows. It reported a net income of $$100,000$ for the year $2016.$

During the year $2016,$ the working capital accounts were changed as follows:

Increase in accounts receivable: $$22,000$

Increase in accounts payable: $$18,600$

Increase in inventory: $$14,800$

Decrease in non$-$trade notes payable: $$30,000$

Increase in available for sale securities: $$32,000$

The depreciation expense was $$34,000$ for the year $2016.$

Required:

Compute net cash provided $($used$)$ by operating activities using the indirect method.

$(15$ marks$)$