The Black Corporation has provided the following information: Net income $560,000 Increase in prepaid expenses 14,000 Amortization of discount on bonds payable Decrease in accounts payable Increase in inventory 10,000 20,000 21,000 Dividends declared 39,000 Dividends paid Increase in accounts receivable 36,000 30,000 Increase in wages payable 16,000 Increase in deferred tax liability 41,000 Required: Determine the cash flow from operating activities using the indirect method of cash flow statement presentation