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

Net income for 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $\$ 90,000$

Sales revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500,000 Cost of goods sold. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000 Depreciation expense for 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60,000 Amortization of goodwill for 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000 Interest expense on short-term debt for 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,500 Dividends declared and paid in 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,000

\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) . . . . . . . & $\$ 30,000$ & $\$ 43,000$ \\

\hline Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . & 50,000 & 42,000 \\

\hline Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . & 56,000 & 59,400 \\

\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.)