Problem 5 Cash flow from operations activities-indirect method An analysis of the 2010 financial statements of Portside Provisions reveals the following: (a) Accounts payable to suppliers of merchandise decreased by $65,000 during 2010 (b) Dividends of $135,000 were declared in November 2010, to be paid in January 2011 (c) Dividends of $120,000, declared in November 2009, were paid in January 2010 (d) Inventory levels increased by $91,000 during 2010. (e) Depreciation expense for 2010 amounted to $53,000 (f) Land, which had a cost of S350,000, was sold in 2010 for $400,000 cash, resulting in a gain of $50,000 (g) Net income for 2010 was S745,000 Using only the above information, follow the indirect method to compute Portside Provisions net cash flows from operating activities for 2010