Smith Company's current year income statement, comparative balance sheets, and additional information follow. For the year, $(1)$

all sales are credit sales, $(2)$ all credits to Accounts Receivable reflect cash receipts from customers, $(3)$ all purchases of inventory

are on credit, $(4)$ all debits to Accounts Payable reflect cash payments for inventory, and $(5)$ Other Expenses are paid in advance

and are initially debited to Prepaid Expenses.

Additional Information on Current Year Transactions

a$.$ The loss on the cash sale of equipment was $$5,200($details in $b).$

b$.$ Sold equipment costing $$47,000,$ with accumulated depreciation of $$23,000,$ for $$18,800$ cash.

c$.$ Purchased equipment costing $$98,000$ by paying $$32,000$ cash and signing a long$-$term note payable for the balance.

d$.$ Borrowed $$5,000$ cash by signing a short$-$term note payable.

e$.$ Paid $$48,000$ cash to reduce the long$-$term notes payable.

f$.$ Issued $2,600$ shares of common stock for $$20$ cash per share.

g$.$ Declared and paid cash dividends of $$57,800.$

QUESTION: Prepare the operating activities section of the statement of cash flows using the $*$INDIRECT$*$ method. Enter reductions to net cash provided by operating activities as negative values.