Use the information from BE23-4 for Bloom Corporation. Prepare the cash flows from operating activities section of Bloom’s 2014 statement of cash flows using the indirect method.

Data From BE 23-4:

Bloom Corporation had the following 2014 income statement.

Sales revenue                                                         $200,000
Cost of goods sold                                                   120,000 
Gross profit                                                               80,000
Operating expenses (includes depreciation
of $21,000)                                                               50,000 
Net income                                                             $ 30,000 

The following accounts increased during 2014: Accounts Receivable $12,000; Inventory $11,000; Accounts Payable $13,000. Prepare the cash flows from operating activities section of Bloom’s 2014 statement of cash flows using the direct method.