Table 5 Statement of Cash Flows for Years Ended December 31 (Thousands of Dollars) 1988 1989 Cash Flow from Operations Sales $378,549 $401,251 Increase in receivables (2,728) 2179ox Cash sales $375,821 $379,461 Cost of goods sold ($311,110) ($342,016) Increase in inventories (29,600) (28,623) Increase in accounts payable 7,484 18,984 Increase in accruals 3,314 4462X Cash cost of goods ($329,912) ( 347 193 )X Cash margin $ 45,909 32, 268. X Administrative and selling expenses (30,690) ($ 33,762) Miscellaneous expenses (7,114) (11,450) Taxes (9,088) (1,547) Net cash flow from operations ($ 983) 14 491X Cash Flow from Fixed Asset Investment Investment in fixed assets $ 4,561) ($ 5,409) Cash Flow from Financing Activities Increase in short-term debt. $ 3,824 $ 26,266 Increase in long-term debt 6,695 OX Repayment of mortgage (536) (522) Interest expense (3,598) (6,076) Common dividends (3,408) 580 Net cash flow from financing activities $ 2,977 $ 19,088 Increase (decrease) in cash and marketable securities $ 2,568) 812 x