Penn Corp. reported the following information for 2016 and 2017:

2016 2017

Accounts receivable $170 000 $20 000

Prepaid expenses 8 000 40 000

Accounts payable 55 000 90 000

Salaries payable 13 000 10 000

Total comprehensive income 375 000

Depreciation expense 5 000

Gain on sale of equipment 7 000

If Penn uses the indirect method to prepare the operating activities section of the statement of cash flows, what amount will be reported as net cash inflow from operating activities for 2016?

		$523,000
		$376,000
		$473,000
		$505,000