Neptune Strategy, Inc., provides consulting services. In 20X1, net income was $185,000 on revenues of $460,000 and expenses of $275,000. The only non-cash expense was the depreciation of $35,000. The company has no inventory. Accounts receivable increased by $5,000 during 20X1, and accounts payable and salaries payable were unchanged. Prepare a statement of cash flow from operating activities.