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Reporting Net Cash Flow from Operating Activities

The income statement for Granville Manufacturing Company is presented below.

Granville Manufacturing Company Income Statement For the year ended December 31
Sales	$4,199,830
Cost of goods sold	(2,787,210)
Gross margin	$1,412,620
Operating expenses:
Salaries expense	$(831,800)
Depreciation expense	(246,100)
Administrative expense	(131,000)
Bad debt expense	(51,700)
Other expenses	(43,900)
Net income	$ 108,120

The following balance sheet changes occurred during the year:

• Accounts receivable increased by $182,400.
• Inventory increased by $98,725.
• Prepaid expenses decreased by $64,100.
• Accounts payable increased by $43,850.
• Salaries payable increased by $54,900.

Required:

Prepare the net cash flows from operating activities using the indirect method. Use a minus sign to indicate any decreases in cash or cash outflows.