The statement of income of Packer Inc. for the year ended December 31, 2022, reported the following condensed information:

Revenue from fees..................................... $585,000

Operating expenses................................... 340,000

Income from operations............................. 245,000

Income tax expense................................... 61,250

Net income................................................. $183,750

Packer's statement of financial position contained the following comparative data at December 31:

2022 2021

Accounts receivable................................... $52,500 $45,000

Accounts payable....................................... 34,000 41,000

Income taxes payable................................ 5,500 3,000

The corporation has no depreciable assets. Accounts payable pertain to operating expenses.

Instructions

Using the indirect method, prepare the operating activities of the statement of cash flows for the year ended December 31, 2022.