Below Is the Latest Income Statement of Mandolin Ltd In Addition, the Following Information Related to Net Changes in

below is the latest income statement of Mandolin Ltd.: $\begin{array}{llr} \text { Sales.} &\$570,000\\ \text {Cost of goods sold. } &337,500\\ \text {Gross profit. } &\$232,500\\ \text { Operating expenses. } &127,500\\ \text {Income before income taxes } &105,000\\ \text {Income taxes } &42,000\\ \text { Net income. } &\$63,000\end{array}$
In addition, the following information related to net changes in working capital is available: $\begin{array}{lc} &\text { \underline{\text{Debit } }} &\text { \underline{\text{ Credit}} } \\\text {Cash } ................................................................................................ & \$ 18,000 & \\\text { Accounts receivable (net) } ..............................................................& 12,000 & \\\text { Inventories } ......................................................................................& & \$ 29,100 \\\text { Salar ies payable (operating expenses) }........................................... & 9,000 & \\\text {Accounts payable }............................................................................ & & 13,500 \\\text { Income tax pavable } ............................................................................ & 4.500 & \\ \end{array}$ Mandolin Ltd. also reports that depreciation expense for the year was $ 20,550 and that the deferred tax liability account increased $ 3,900.
Instructions
Prepare a schedule calculating the net cash flow from operating activities that would be shown on a statement of cash flows using the direct method.