The income statement disclosed the following items for 2016:

Depreciation expense	$ 57,600
Gain on disposal of equipment	33,600
Net income	508,000

Balances of the current assets and current liability accounts changed between December 31, 2015, and December 31, 2016, as follows:

	Increase (Decrease)
Accounts receivable	$8,960
Inventory	(5,120)
Prepaid insurance	(1,920)
Accounts payable	(6,080)
Income taxes payable	1,410
Dividends payable	2,200

Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required.