The income statement of Concord Company is shown below.

CONCORD COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Gross profit Operating expenses Selling expenses 440,000 Administrative expenses 770,000 Net income Additional information: $430,000 1. 2. 3. 4. 5. Accounts receivable decreased $290,000 during the year. Prepaid expenses increased $170,000 during the year. Accounts payable to suppliers of merchandise decreased $300,000 during the year. Accrued expenses payable decreased $140,000 during the year. Administrative expenses include depreciation expense of $70,000. Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2017, for Concord Company, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000). )