Selected balance sheet information and the income statement for Fountainhead Corporation for the current year are presented below.

Selected Balance Sheet Accounts
	Prior Year			Current Year
Accounts Receivable	$	26,200		$	18,000
Merchandise Inventory		36,000			39,600
Prepaid Rent		2,600			0
Accounts Payable		20,600			26,800
Salaries and Wages Payable		5,200			7,800

Income Statement
Sales Revenue	$	540,000
Expenses:
Cost of Goods Sold		308,000
Depreciation Expense		36,000
Salaries Expense		54,000
Rent Expense		21,600
Insurance Expense		21,600
Interest Expense		19,800
Utilities Expense		18,000
Net Income	$	61,000

Required: Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Enter any deductions and cash outflows as a negative value.)

References