Question 6

The following balances were gathered from Newport Industries general ledger.

December 31, 2014	December 31, 2015
Accounts receivable	$70,070	$59,370
Inventory	137,960	151,930
Accounts payable	32,210	44,660
Accrued liabilities	12,540	9,640
Sales	326,880
Cost of goods sold	138,600
Operating expenses (includes $7,050depreciation)	69,980
Loss on sale of land	5,810
Income tax expense	22,280

Using the indirect method, prepare the cash flows provided by operating activities section of Newport?s statement of cash flows.(Enter amounts that decrease cash using either a negative sign preceding the number e.g. -4,527 or parentheses e.g. (4,527).)