Pella Company presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from Pella's 2014 and 2013 year-end balance sheets:
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The income statement contained a $700 loss on the sale of equipment, a $900 gain on the sale of land, and $2,500 of depreciation expense. Net income for the period was $36,500.
Required:
Prepare the operating activities section of the statement of cash flows.