Northeast Inc. is preparing the company's statement of cash flows for the fiscal year just ended. Using the following information, determine the
amount of cash flows from operating activities using the Indirect method:
Net income
Gain on the sale of equipment
Proceeds from the sale of equipment
Depreciation expense-equipment
Payment of bonds at maturity
Purchase of land
Issuance of common stock
Increase in merchandise inventory
Decrease in accounts receivable
Increase in accounts payable
Payment of cash dividends
$182,000
12,300
92,300
50,000
100,000
200,000
300,000
35,400
28,800
23,700
32,000
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