The current year income statement along with changes in selected balance sheet accounts follow. Income Statement For Year Ended December 31 Sales $ 268,000 Cost of goods sold 121,000 Gross profit $ 147,000 Operating expenses Salaries expense $ 83,000 Depreciation expense 35,000 Amortization expense 17,000 135,000 $ 12,000 Gain on sale of equipment 31,000 Income before taxes $ 43,000 Income taxes expense 14,300 Net Income $ 28,700

Calculate the net cash provided or used by operating activities using the direct method. Note: Amounts to be deducted should be indicated with a minus sign. Calculate the net cash provided or used by operating activities using the direct method. Note: Amounts to be deducted should be indicated with a minus sign