indirect method operating activities

Based on the following income statement and balance sheet for Rashid Corporation, determine the cash flows from operating activities using the indirect method

Rashid Corp
Income statement for year ended dec 31, 2011
Sales 504,000
costs of good sold 327,600
depreication espenses 42,000
other operating expenses 125,500 (495,100)
other gains (losses)
gain on sale of equipment 7,200
income before taxes 16,100
income tax espense (4,800)
Net income $11,300

Rashid corporation balance sheets at dec 31
assets 2011 2010
Cash 64,650 55,800
Accts Receivable 21,000 29,000
Inventory 58,000 52,100
Equipment 240,000 222,000
Accumulated depreciation (106,00) (96,000)
Total Assets 277,650 262,900

Liabilities
accounts payable 28,400 23,700
income tax payable 1,050 1,200
total liabilities 29,450 24,900

equity
common stock 106,000 106,000
contributed capital in excess of par value 18,000 18,000
retained earnings 124,200 114,000
total equity 248,200 238000
total liabilities & equity 277,650 262,900