Hardware Suppliers reports net income of $155,000. Included in net income is a gain on the sale of land of $15,000. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $25,000, an increase in inventory of $15,000, and a decreased in accounts payable of $45,000.
Required:
Prepare the operating activities section of the statement of cash flows using the indirect method.