The following data are summarized from the income statement of Paul, Inc., for the year ended December 31, 2016. Using these data and ignoring changes in current assets, current liabilities, and income taxes, prepare a schedule of cash flows from operating activities for the year. (Use Figure 24.5 as a model for this schedule.)

Paul, Inc. Income Statement Year Ended December 31, 2016 Sales Cost of Goods Sold Gross Profit on Sales 7000 0 0 00 3301 01 01 00 370 0 00 00 Operating Expenses Depreciation Other Selling Expenses Other Administrative Expenses 20 5 00 00 1600 00 00 92 5 00 00 273 Net Income from Operations Bond Interest Expense 97 Cash Interest 20 0 00 00 301010100 Amortization of Discount on Bonds Payable 23 74 Net Income for Year