Selected financial statement information and additional data for Stayner Co. is presented below.

December 31

2017 2018

Cash........................................................ $44,000 $63,000

Accounts receivable (net).................... 82,000 151,200

Inventory................................................ 168,000 201,600

Land........................................................ 58,800 21,000

Equipment............................................. 504,000 789,600

Accumulated depreciation................... (84,000) (115,600)

TOTAL........................................ $772,800 $1,110,800

Accounts payable.................................. 50,400 86,000

Miscellaneous payables........................ 67,200 29,400

Notes payable - Long-term.................. 168,000 302,400

Common stock....................................... 420,000 487,200

Retained earnings................................. 67,200 205,800

TOTAL........................................ $772,800 $1,110,800

Additional data for 2018:

• Net income was $235,200.
• Depreciation was $31,600.
• Miscellaneous payables relate to operating expenses.
• Land was sold at its original cost.
• Dividends of $96,600 were paid.
• Equipment was purchased for $134,000 cash.

The net cash provided (used) by operating activities was: