Presented below is the income statement of Nicklaus, Inc.:

Sales $475,000 Cost of goods sold 280,000 Gross profit 195,000 Operating expenses 89.000 Income before income taxes 106.000 Income taxes 42.000 Net Income $64 000 In addition, the following information relatedto net changes in working capital accounts is presented: Increase Decrease Cash $15,000 Trade accounts receivable (net) 8,400 Inventories $16.200 Salaries payable (operating) 6,000 Trade accounts payable 11,000