The net income reported on the income statement for the current year was $165,300. Depreciation recorded on equipment and a building amounted to $46,700 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:

end of year beginning of year

Cash 42,000 43,500

Accounts Rec. (net) 65,400 69,200

Inventories 125,900 115,100

Prepaid expenses 5,800 6,400

Accounts Payable (merch. creditors) 61,400 64,200

Salaries payable 8,300 8,000

Prepare the cash flows from operating activities section of the statement of cash flows, using the indirect method