The condensed single-step income statement for the year ended December 31, 2014, of Conti Chemical Company, a distributor of farm fertilizers and herbicides, appears as follows:

Sales				$26,000,000
Less: Cost of goods sold		$15,200,000
Operating expenses (including depreciation of $1,640,000)		7,600,000
Income taxes expense		800,000		23,600,000
Net income				$ 2,400,000

Selected accounts from Conti Chemicals balance sheets for 2014 and 2013 follow.

		2014		2013
Accounts receivable		$4,800,000		$3,400,000
Inventory		1,680,000		2,040,000
Prepaid expenses		520,000		360,000
Accounts payable		1,920,000		1,440,000
Accrued liabilities		120,000		200,000
Income taxes payable		280,000		240,000

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Prepare a schedule of cash flows from operating activities using the indirect method. Use the minus sign to indicate cash outflows or a decrease in cash.

Conti Chemical Company
Schedule of Cash Flows from Operating Activities
For the Year Ended December 31, 2014
Cash flows from operating activities
Adjustments to reconcile net income to net cash flows from operating activities
Changes in current assets and current liabilities
Net cash flows from operating activities