Hardware Suppliers reports net income of $159,000. Included in net income is a gain on the sale of land of $17,000. A comparison of this years and last years balance sheets reveals an increase in accounts receivable of $29,000, an increase in inventory of $17,000, and a decrease in accounts payable of $49,000.

Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.)