Suppose your company reports $225 of net income and $53 of cash dividends paid, and its comparative balance sheet indicates the following.

	Beginning			Ending
Cash	$	48		$	268
Accounts Receivable		140			238
Inventory		310			198
Total	$	498		$	704
Salaries and Wages Payable	$	23		$	115
Common Stock		165			107
Retained Earnings		310			482
Total	$	498		$	704

Required:

1.	Prepare the operating activities section of the statement of cash flows, using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Please show steps.

Net Income
Increase in Accounts Receivable
Decrease in Inventory
Increase in Salaries and Wages Payable
Dividends paid
Net Cash Flow from Operating Activities