Use the following information to prepare the operating activities section of a statement of cash flows for ABC Co$.$ for $2023$ using the indirect method.

Net Income $$290,000$

Increase in merchandise inventory $$27,700$

Increase in accounts payable $$16,000$

Depreciation expense $$47,000$

Decrease in accounts receivable $$15,000$

Loss on sale of land $$25,600$