Culver Corporation had the following 2017 income statement.

Sales revenue		$216,000
Cost of goods sold		127,000
Gross profit		89,000
Operating expenses (includes depreciation of $22,000)		53,000
Net income		$36,000

The following accounts increased during 2017: Accounts Receivable $13,000, Inventory $12,000, Accounts Payable $14,000. Prepare the cash flows from operating activities section of Culvers 2017 statement of cash flows using the direct method.

Culver Corporation Statement of Cash Flows-Direct Method (Partial) December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Decrease in Accounts ReceivableCash Received from CustomersCash Payment for Operating ExpensesNet IncomeCash Payment to SuppliersIncrease in Accounts ReceivableDepreciation ExpenseIncrease in InventoryDecrease in InventoryIncrease in Accounts PayableDecrease in Accounts Payable		$
Depreciation expense Decrease in Accounts Receivable Increase in Inventory Increase in Accounts Receivable Increase in Accounts Payable Decrease in Accounts Payable Net Income Decrease in Inventory Cash Received from Customers Cash Payment to Suppliers Cash Payment for Operating Expenses	$
Increase in Accounts Payable Cash Payment for Operating Expenses Increase in Accounts Receivable Net Income Increase in Inventory Depreciation expense Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Inventory Cash Payment to Suppliers Cash Received from Customers
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash		$