The income statement for Piura Merchandising Corporation is as follows:

Piura Merchandising Corporation
Income Statement
At December 31, 2015
Sales		$ 1,575,000
Less: Cost of goods sold
Beginning inventory	$ 385,000
Purchases	705,000
Ending inventory	(295,000)
		(795,000)
Less: Depreciation expense		(62,000)
Less: Amortization of patent		(15,000)
Less: Wages expense		(69,000)
Less: Insurance expense		(36,500)
Income before taxes		$ 597,500
Less: Income taxes (all current)		(102,500)
Net income		$ 495,000

Other information is as follows:

A.	Accounts payable decreased by $20,000 during the year.
B.	Accounts receivable increased by $17,000.
C.	All wages were paid at the beginning of the year; at the end of the year, wages payable had a balance of $12,000.
D.	Prepaid insurance increased by $24,000 during the year.

Prepare a schedule that provides the operating cash flows for the year using the indirect method.