Selected accounting information for the Zebra Company for 2016 follows:

Increase in prepaid expenses $ 7,000

Increase in wages payable 3,500

Net income 300,000

Amortization of premium on bonds payable 2,000

Depreciation expense 27,000

Increase in accounts payable 10,000

Decrease in inventories 15,000

Increase in deferred income tax liability 4,000

Decrease in accounts receivable 4,500

Issuance of long-term note 100,000

Gain on sale of land 15,000

Declaration of cash dividends 8,000

Patent amortization expense 10,000

Proceeds from sale of land 20,000

Required:

Prepare the 2016 Net Cash Flow from Operating Activities section of Zebra's statement of cash flows, using the indirect method.