QRS Enterprises provides the following details for the year ended December 31, 2029:

Account	12/31/2029	12/31/2028
Sales	12,000,000	11,200,000
Cost of goods sold	7,200,000	6,720,000
Selling expenses	1,200,000	1,120,000
Administrative expenses	300,000	280,000
Interest expense	140,000	130,000
Gain on sale of asset	80,000	-
Income tax expense	240,000	230,000

Additional information:

1. Depreciation of $360,000 is included in selling expenses and $120,000 in administrative expenses.
2. An asset was sold for $1,000,000 cash. This asset cost $1,200,000 and had a carrying value of $920,000.
3. New asset was purchased for $600,000 cash.
4. Declared and paid dividends of $480,000.
5. Purchased 1,600 treasury shares for $160,000.

Requirements:

1. Compute the cash flows from operating activities.
2. Calculate the cash flows from investing activities.
3. Determine the cash flows from financing activities.
4. Identify the ending cash balance.
5. Reconcile net income to net cash provided by operating activities.