Marion Company reported net income of $170,000 for the current year. Depreciation recorded on buildings and equipment amounted to $50,000 for the year.Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:

End of YearBeginning of Year

Cash$20,000$18,000

Accounts receivable40,00032,000

Inventories50,00058,000

Accounts payable11,00018,000

Salaries pa 10,0006,000

Instructions

Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method.