Below is an example of an incorrectly prepared statement of cash flows. The descriptions of the activities are correct.
Cash from operating activities
Net Income $ 60,000
Depreciation (4,000)
Increase in accounts receivable (2,000)
Increase in deferred tax liability (1,000)
$ 53,000
Cash from investing activities
Purchase of marketable securities $(48,000)
Dividends paid 1,500
$(46,500)
Cash from financing activities
Increase in Short-term debt - trade $ (500)
Increase in Long-term debt - bonds
Payable
(2,500)
$ (3,000)
Increase in cash $ 3,500
what is the correct cash flows from operating activities ?