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Galaxy Bedding Company manufactures luxury bedding goods. Given below is the financial information for the past two years: Balance Sheet Assets 2021 2022 Cash $145,000

Galaxy Bedding Company manufactures luxury bedding goods. Given below is the financial information for the past two years:

Balance Sheet

Assets

2021

2022

Cash

$145,000

$150,000

Marketable Securities

235,000

260,000

Accounts Receivable

560,000

820,000

Inventories

420,000

675,000

Investments in marketable securities

170,000

255,000

Total current assets

$1,530,000

$2,160,000

Plant and Equipment

1,800,000

2,500,000

Less Accumulated Amortization

540,000

750,000

Net plant and Equipment

$1,260,000

$1,750,000

Total Assets

$2,790,000

$3,910,000

LIABILITIES AND SHAREHOLDERS EQUITY

Accounts payable

$430,000

$385,000

Notes payable

350,000

410,000

Accrued Expenses

230,000

245,000

Income Taxes Payable

255,000

410,000

Bonds Payable (2025)

200,000

500,000

Common Stock (100,000 shares)

1,000,000

1,000,000

Retained Earnings

325,000

960,000

Total Liabilities and Shareholders Equity

$2,790,000

$3,910,000

Galaxy had a Net Income after taxes of $1,554,000 in 2022.

Required:

Calculate the amount of Cash flow from Operating Activities for the year ending December 31, 2022.

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