Current Attempt in Progress

Blue Corporation had the following 2020 income statement.

Sales revenue		$197,000
Cost of goods sold		127,000
Gross profit		70,000
Operating expenses (includes depreciation of $20,000)		46,000
Net income		$24,000

The following accounts increased during 2020: Accounts Receivable $13,000, Inventory $11,000, and Accounts Payable $15,000. Prepare the cash flows from operating activities section of Blues 2020 statement of cash flows using the direct method.

Blue Corporation Statement of Cash Flows-Direct Method (Partial)