The accounting records of EZ Company provided the data below.

Net income	$	59,500
Depreciation expense		11,500
Increase in inventory		3,750
Decrease in salaries payable		2,650
Decrease in accounts receivable		5,000
Amortization of patent		850
Amortization of premium on bonds		4,950
Increase in accounts payable		8,500
Cash dividends paid		17,000

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