The Following Balances Were Gathered from Newport Industries General Ledger

The following balances were gathered from Newport Industries general ledger.
$$\begin{array} { | l | r | r | } \hline & \begin{array} { r } \text { December } \\\mathbf { 3 1 , 2 0 1 4 }\end{array} & \begin{array} { r } \text { December } \\\mathbf { 3 1 , 2 0 1 5 }\end{array} \\\hline \text { Accounts receivable } & \$ 67,000 & \$ 62,000 \\\hline \text { Inventory } & 140,000 & 147,000 \\\hline \text { Accounts payable } & 32,000 & 44 ,000 \\\hline \text { Accrued liabilities } & 12,000 & 10,000 \\\hline \text { Sales } & 320,000 & \\\hline \text { Cost of goods sold } & 140,000 & \\\hline \text { Operating expenses includes } \$ 7,000 \text { depreciation } & 72,000 & \\\hline \text { Loss on sale of land } & 6,000 & \\\hline \text { Income tax expense } &22,000 & \\\hline\end{array}$$ Required:

Using the indirect method, prepare the cash flows provided by operating activities section of Newport’s statement of cash flows.