7) Preparing operating activities cash flow-direct method Learning Objective 4 Appendix 16A The accounting records of Grand Auto Parts reveal the following 33,000 13,000 14,000 7,000 113,000 $ 24,000 15,000 7,000 57,000 Net income Payment of salaries and wages Depreciation expense Payment of interest Payment of dividends Collections from customers Payment of income tax Collection of dividend revenue Payment to suppliers Compute cash flows from operating activities using the direct method for the year ende December 31, 2016