The accounting records of EZ Company provided the data below.

Net income	$	50,000
Depreciation expense		7,000
Increase in inventory		1,500
Decrease in salaries payable		800
Decrease in accounts receivable		2,000
Amortization of patent		500
Amortization of premium on bonds		1,000
Increase in accounts payable		4,000
Cash dividends		12,000

Prepare a reconciliation of net income to net cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign.)