The Current Assets and Liabilities of the Lionel Corporation on December

The current assets and liabilities of the Lionel Corporation on December 31, 2014 and 2013, are listed below. Lionel's net income for 2014 was $75,000. Included in its expenses was depreciation of $17,000. Prepare a schedule of cash flows from operating activities for 2014. $\begin{array}{lrr} & \text { Dec. } 31,2014 & \text { Dec. } 31,2013 \\\text { Cash } & \$ 86,000 & \$ 70,000 \\\text { Accounts Receivable (Net) } & 125,000 & 101,000 \\\text { Prepaid Expenses } & 16,000 & 19,000 \\\text { Merchandise Inventory } & 105,000 & 86,000 \\\text { Accounts Payable } & 110,000 & 105,000\end{array}$