The following information is taken from the income statement of Purple Inc. for 2016:
Sales................................................................$950,000
Cost of Goods Sold................................................600,000
Gross Profit on Sales.............................................$350,000
Operating Expenses
Depreciation.................................$ 20,000
Other Operating Expenses..................180,000.............200,000
Net Income from Operations....................................$150,000
Additional information relating to account balances at the beginning and end of the year appears below:
______________________________Jan. 1, 2016 Dec. 31, 2016
Accounts Receivable......................$56,000.....................$50,000
Merchandise Inventory.....................74,000......................78,000
Accrued Liabilities............................5,000........................2,500
Accounts Payable............................38,000......................29,000
Determine the cash flows from operations for 2016.