The income statement for the Mendelin Corporation is as follows:

Revenues		$ 380,000
Less: Cost of goods sold:
Beginning inventory	$ 50,000
Purchases	200,000
Ending inventory	(34,000)	(216,000)
Less: Patent amortization		(20,000)
Advertising		(12,000)
Depreciation expense		(60,000)
Wages expense		(30,000)
Insurance expense		(10,500)
Bad debt expense		(6,400)
Interest expense		(7,600)
Net income		$ 17,500

Additional information is as follows:

A.	Interest expense includes $1,800 of discount amortization.
B.	The prepaid insurance expense account decreased by $2,000 during the year.
C.	Wages payable decreased by $3,000 during the year.
D.	Accounts payable increased by $7,500 (this account is for purchase of merchandise only).
E.	Accounts receivable increased by $10,000 (net of allowance for doubtful accounts).
F.	Inventory decreased by $16,000.

Required:

Prepare a schedule of operating cash flows using the indirect method.