Problem: The accounting records of EZ Company provided the data below:
Net income $ 68,050
Depreciation expense 15,550
Increase in inventory 5,775
Decrease in salaries payable 4,315
Decrease in accounts receivable 7,700
Amortization of patent 1,165
Amortization of premium on bonds 8,505
Increase in accounts payable 12,550
Cash dividends 21,500
Prepare a reconciliation of net income to net cash flows from operating activities.