Gregson Company had the following noncash current asset and current liabilities balances at the end of 2010 and 2011:
|
2010
|
|
2011
|
|
Accounts receivable
|
$ 60,000
|
|
$ 68,000
|
|
Inventory
|
230,000
|
|
210,000
|
|
Prepaid insurance
|
15,000
|
|
13,000
|
|
Accounts payable
|
20,000
|
|
30,000
|
|
|
|
|
Net income for 2011 was $750,000 and depreciation expense was $40,000. All sales and all purchases are on account. Gregson uses the indirect method for preparing the statement of cash flows.
Net cash flows from operating activities for 2011 would be?