Sage Inc. experienced the following transactions for Year 1, its first year of operations:

1. Issued common stock for $80,000 cash.
2. Purchased $185,000 of merchandise on account.
3. Sold merchandise that cost $154,000 for $306,000 on account.
4. Collected $266,000 cash from accounts receivable.
5. Paid $165,000 on accounts payable.
6. Paid $48,000 of salaries expense for the year.
7. Paid other operating expenses of $64,000.
8. Sage adjusted the accounts using the following information from an accounts receivable aging schedule:

Number of Days Past Due	Amount			Percent Likely to Be Uncollectible	Allowance Balance
Current	$	24,000		0.01
030		10,000		0.05
3160		2,000		0.10
6190		2,000		0.20
Over 90 days		2,000		0.50

I need the outflow for inventory

Prepare the statement of cash flows for Sage Inc. for Year 1. (Cash outflows should be indicated with a minus