The net income reported on the income statement for the current year was $275,000. Depreciation recorded on fixed assets was $40,000. Balances of accounts receivable and accounts payable at the end and at the beginning of the year are as follows:

	End	Beginning
Accounts receivable	112,000	108,000
Accounts payable	75,000	89,000

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

In order to earn credit for your answers to the problems, you are required to show all supporting work.