The following information was taken from the comparative financial statements of Altec Industries Inc. for the years ended December 31, 1999 and 2000.

\footnotetext{

Net income for 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $\$ 175,000$

Sales revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 750,000 Cost of goods sold. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 425,000

}

Depreciation expense for 2000 $\$ 45,000$
Amortization of goodwill for 2000 ..... 5,000 Interest expense on short-term debt for 2000 . ..... 8.000 Dividends declared and paid in 2000 ..... 30,000 Utilities expense ..... 3,000 \begin{tabular}{|c|c|c|}
\hline & \begin{tabular}{c}
Dec. 31. \\
2000 \end{tabular} & \begin{tabular}{c}
Dec. 31. \\
1999 \end{tabular} \\
\hline Accounts receivable (net) . . . & $\$ 45,000$ & $\$ 57,000$ \\
\hline Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . & 62,500 & 50,000 \\
\hline Accounts payable. . . . . . . . . . . . . . . . . . . . & 70,000 & 51,500 \\
\hline \end{tabular}
Use the direct method to compute cash flows provided by operating activities in 2000. (Hint: You need to calculate cash paid for operating expenses.)