Zambrano Corporation
Income Statement
For the Year Ended December 31, 20x5
Sales	$6,000
Cost of goods sold		3,000
Gross margin		$3,000
Operating expenses	$1,200
Depreciation expense	600	1,800
Income before income taxes		$ 1,200
Income taxes expense		300
Net income		$ 900

Accounts receivable (net) decreased by $1,500 during the year. Inventory increased by $900, and Accounts Payable decreased by $1,200 during the year. Income Taxes Payable increased by $300 during the year. (10 points)

Prepare a schedule of cash flows from operating activities using the indirect method.