The following account balances are for the noncash current assets and current liabilities of Sam's surfboard shop for 2008 and 2009

The following account balances are for the noncash current assets and current liabilities of Sam's surfboard shop for 2008 and 2009


2008 2009

Accounts Receivable $8000 $20000
Inventory 55000 70000
Prepaid insurance 3000 1000
Accounts Payable 14000 22000
Salaries Payable 4000 2000

In addition, the income statement for 2009 is as follows:

Sales Revenue $800000
cost of goods sold 380000
Gross profit $420000
General and administrative expenses 60000
Depreciation expenses 40000
Total operating expenses $100000
Income before interest and taxes $320000
Interest expense 25000
Income before tax $295000
Income tax expense 88000
Net income $207000

Prepare the operating activities section of the statement of cash flows using the indirect method.