Net Cash Flow From Operating Activities

The following are accounting items taken from Tyrone Shoelaces Company's records for 2016:

Net income, $22,700

Payment for purchase of land, $4,000

Payment for retirement of bonds, $6,000

Depreciation expense, $7,800

Receipt from issuance of common stock, $7,000

Patent amortization expense, $3,700

Increase in accounts receivable, $4,300

Payment of dividends, $5,000

Decrease in accounts payable, $2,700

Required:

Prepare the net cash flow from operating activities section of Tyrone's 2016 statement of cash flows using the indirect method. Use a minus sign for any negative amounts.