The Diversified Portfolio Corporation provides investment advice to customers. A condensed income statement for the year ended December 31, 2013, appears below:

Service revenue	$	1,120,000
Operating expenses		810,000
Income before income taxes		310,000
Income tax expense		93,000
Net income	$	217,000
The following balance sheet information also is available:

12/31/13

12/31/12

Cash

$

405,000

$

81,000

Accounts receivable

142,000

111,000

Accounts payable (operating expenses)

92,000

71,000

Income taxes payable

21,000

37,000

In addition, the following transactions took place during the year:
1.	Common stock was issued for $122,000 in cash.
2.	Long-term investments were sold for $61,000 in cash. The original cost of the investments also was $61,000.
3.	$91,000 in cash dividends was paid to shareholders.
4.	The company has no outstanding debt, other than those payables listed above.
5.	Operating expenses include $41,000 in depreciation expense.

Required:
1.	Prepare a statement of cash flows for 2013 for the Diversified Portfolio Corporation. Use the direct method for reporting operating activities. (Amounts to be deducted should be indicated with a minus sign)