Following are the income statement and some additional information for Carolina Consulting Company.Carolina Consulting CompanyIncome StatementFor the Year Ended December $31,2024$Net sales $ $16,000$Cost of goods sold $(2,700)$Gross margin $13,300$Operating expenses $ $3,200$Depreciation expense $1,500(4,700)$Income before taxes $8,600$Income taxes $(2,800)$Net income $ $5,800$All sales were on credit and accounts receivable decreased by $$1,020$ in $2024$ compared to $2023.$ Merchandise purchases were on credit with a decrease in accounts payable of $$820$ during the year. Ending inventory was $$620$ larger than beginning inventory. Income taxes payable increased $$420$ during the year. All operating expenses were paid for in cash.Required:Prepare the cash flows from operating activities section of the statement of cash flows using the direct method.Note: Amounts to be deducted should be indicated with a minus sign.