Windsor Company reported net income of $420,000 for the current year. Depreciation recorded on buildings and equipment amounted to $77,000 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		$20,500		$15,000
Accounts receivable		15,000		39,000
Inventory		57,500		61,000
Prepaid insurance		8,200		6,500
Accounts payable		15,000		17,600
Income taxes payable		640		1,460

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