Utah Corp.

Use the following selected data and additional information from the records of Utah Corp. to answer the questions that follow.

Balance Sheet Data	2014	2013
Accounts receivable	$ 36,000	$ 42,000
Inventories	28,000	25,000
Accounts payable	31,000	35,000
Salaries payable	2,000	1,000
Equipment	60,000	40,000
Accumulated depreciation	12,000	16,000
Bonds payable	50,000	100,000
Common stock	150,000	100,000
Retained earnings	38,000	20,000

Incom Income Statement Data	2014
Net sales	$420,000
Cost of goods sold	300,000
Operating expenses (excluding depreciation expense)	84,000
Net income	30,000
Gain on sale of equipment (included in net income above)	2,000

Additional information:

(1)	Equipment with a cost of $15,000 and a book value of $3,000 was sold for $5,000 during 2012.
(2)	Common stock was issued to retire bonds payable during 2014.
(3)	The only items affecting retained earnings in 2014 were net income and dividends declared and paid.

Q. Prepare the operating activities section of a statement of cash flows for Utah Corp. for 2014 if the indirect method is used to determine net cash flow from operating activities