Based on the following information, determine the net increase (decrease) in cash for Porter Corporation for the year ended December 31, 2003. Use the direct method to report cash flows from operating activities.

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Cash received from interest revenue Cash paid for dividends. Cash collected from customers. Cash paid for wages.. $ 14,000 45,000 349,000 254,000 Depreciation expense for the period. 25,000 Cash received from issuance of common stock 200,000 Cash paid for retirement of bonds at par 100,000 Cash received on sale of equipment at book value. Cash paid for land. 5,000 85,000