The financial statements of Flathead Lake Manufacturing Company are shown below: Flathead Lake Manufacturing Income Statement 2017 Sales Cost of Goods Sold Depreciation Expense Gross Profit Selling and Administrative Expenses EBIT Interest Expense Income before Tax Taxes Net Income $10,050,000 5,825,000 580,000 $ 3,645,000 2,950,000 $ 695,000 275,000 $ 420,000 272,000 $ 148,000 Flathead Lake Manufacturing Comparative Balance Sheets 2017 2016 Cash $ 46,000 $ 41,000 Accounts Receivable 647,000 675,000 Inventory 626,000 541,000 Total Current Assets $1,319,000 $1,257,000 Fixed Assets 2,200,000 $1,535,000 Total Assets $3,519,000 $2,792,000 Accounts Payable $ 324,000 $ 275,000 Bank Loans 495,000 419,000 Total Current Liabilities $ 819,000 $ 694,000 Long-term Bonds 1,650,000 1,225,000 Total Liabilities $2,469,000 $1,919,000 Common Stock (200,000 shares) 200,000 200,000 Retained Earnings 850,000 673,000 Total Equity $1,050,000 $ 873,000 Total Liabilities and Equity $3,519,000 $2,792,000 Note: The common shares are trading in the stock market for $20 per share Refer to the financial statements of Flathead Lake Manufacturing Company. The firm's cash flow from operating activities for 2017 was