A summary of revenues and expenses for Norwalk Company for 2011 follows:
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,200,000
Cost of goods manufactured and sold . . . . . . . . . . . . . . . . . . . . . . . . 3,500,000
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,700,000
Selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . 2,300,000
Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,400,000
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500,000
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 900,000
Net changes in working capital accounts for 2011 were as follows:

Depreciation on plant and equipment for the year totaled $700,000; 60% was related to manufacturing activities and 40% to general and administrative activities. Prepare a schedule of net cash provided by (used in) operating activities for the year using the directmethod.

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Debit Credit Cash Trade Accounts Receivable nventories $104,000 420,000 $110,000 Prepaid Expenses (seling and general) 5,000 Accrued Expenses (75% of increase related to manufacturing activities and 25% to general operating activities) . . . Income Taxes Payable Trade Accounts Payable 48,000 54,000 170,000