Staley Inc. reported the following data: Net income $369,300 Depreciation expense 66,900 Loss on disposal of equipment 39,000 Increase in accounts receivable 29,000 Increase in accounts payable 12,400 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Cash Flows from Operating Activities-Indirect Method