The Black Corporation has provided the following information:

Net income	$	560,000
Increase in prepaid expenses		14,000
Amortization of discount on bonds payable		10,000
Decrease in accounts payable		20,000
Increase in inventory		21,000
Dividends declared		39,000
Dividends paid		36,000
Increase in accounts receivable		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.