Prepare the operating activities section of the statement of cash flows for Pigeon Company using the indirect method. To complete this part, review portions of the company's financial statements that are provided in the two tables:

Pigeon Company Income Statement For the Year Ended December 31, 2030

Revenues		$610,000
Expenses:
Cost of goods sold	$370,000
Salaries expense	120,000
Depreciation expense	32,000
Income tax expense	44,000
Total expenses		566,000
Net Income		$ 44,000

Pigeon Company Selected Balance Sheet Data December 31, 2030

Increase in accounts receivable	$6,000
Increase in inventory	13,000
Decrease in prepaid rent	9,000
Increase in salaries payable	5,000
Decrease in accounts payable	8,000
Increase in income tax payable	20,000