The following information has been provided for your client, Haley Incorporated:

	June	July
Sales	$ 595,000	$650,000
Purchases	325,000	250,000
Operating expenses:
Payroll	129,400	72,000
Advertising	33,450	48,900
Rent	9,200	9,200
Depreciation	15,000	15,000
Cash at end of June	90,000

You have also been provided with the following additional information:

1. Operating expenses are paid in the month incurred.
2. Purchases are made using credit, with 70% paid in the month of purchase and the balance the following month.
3. Total sales in May were $750,000.
4. Sales are 45% cash and 55% credit.
5. The term of credit sales is 2/10, n/30.
6. Credit sales are collected at 60% in the month following the month of sale (of which 75% are collected within 10 days), and 40% in the month thereafter.

Required: Prepare the statement of cash flow for the month of July. There are no investing or financing activities. Round all amounts to the nearest dollar. *** PLEASE SHOW WORK**