Cash flows from operating activities (indirect and direct methods). Presented below is the income statement of Smiling Tiger, Inc.

	Sales		$250,000
	Cost of goods sold		109,000
	Gross profit		$141,000
	Operating expenses		85,000
	Income before income taxes		56,000
	Income taxes		22,400
	Net income		$33,600
In addition, the following information related to net changes in working capital is presented.
			Debit	Credit
	Cash		$10,600
	Accounts receivable			2,400
	Inventories			$3,600
	Salaries payable (operating expenses)		12,000
	Accounts payable			15,000
	Income taxes payable		1,400
Depreciation expense for the year was $14,700
Deferred tax liability account increased $1,800