The income statement of Ivanhoe Company is shown below.

IVANHOE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020
Sales revenue				$6,930,000
Cost of goods sold
Beginning inventory		$1,900,000
Purchases		4,350,000
Goods available for sale		6,250,000
Ending inventory		1,610,000
Cost of goods sold				4,640,000
Gross profit				2,290,000
Operating expenses
Selling expenses		460,000
Administrative expenses		700,000		1,160,000
Net income				$1,130,000

Additional information:

1.		Accounts receivable decreased $360,000 during the year.
2.		Prepaid expenses increased $150,000 during the year.
3.		Accounts payable to suppliers of merchandise decreased $280,000 during the year.
4.		Accrued expenses payable decreased $110,000 during the year.
5.		Administrative expenses include depreciation expense of $60,000.

Prepare the operating activities section of the statement of cash flows using the direct method