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Gallego's Gloves Company reported a net income of $145,000 for the year ended December 31, 2022. On January 1, 2022, the beginning balances for
Gallego's Gloves Company reported a net income of $145,000 for the year ended December 31, 2022. On January 1, 2022, the beginning balances for the company's accounts receivable and accounts payable were $29,000 and $28,000 respectively. Year-end balance for accounts receivable was $31,000 while year-end balance for accounts payable was $26,000. Gallego's depreciation expense for 2022 was $12,000. Further, the company's prepaid expenses decreased by $2,000. Assuming that all relevant information has been provided, what is Gallego's cash flows from operating activities for the year ended December 31, 2022? (1 point).
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