The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC):
Cash Received from:
Customers ........ $660,000
Interest on note receivables .. 12,000
Collection of note receivable . 100,000
Sale of land ......... 40,000
Insurance of common stock .. 200,000

Cash paid for:
Interest on note payable ..... 18,000
Purchase of equipment ..... 120,000
Operating expenses ..... 440,000
Dividends to shareholders ... 30,000


Prepare the cash flows from operating activities section of HHC's statement of cash flows using the direct method.