Ruth Company has provided the following selected account balances at the beginning and end of the year:

End of Year Beginning of Year

Cash $20,000 $16,000

Accounts receivable 22,000 35,000

Inventories 55,000 68,000

Supplies 8,500 6,000

Long-Term Investments 19,000 24,000

Building 450,000 374,000

Equipment 375,000 383,000

Accounts payable 12,000 18,000

Notes payable (due in 5 years) 80,000 95,000

Income taxes payable 4,600 1,200

Salaries payable 1,100 2,800

Additional Info:

Sales Revenue for the year was $720,000

Net income for the year was $425,000

Depreciation expense for the year was $78,000

Loss on Sale of Equipment was $16,000

Instructions

Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method.