Using the information provided in BE22-15, prepare the operating activities section of the statement of cash flows using the direct method.
In BE22-15
Simons Products, Inc. reported the following comparative balance sheets and income statement for the current year.

Simons Products purchased new equipment for $ 195 and sold equipment with a net book value of $ 26 for $ 52. Both events were cash transactions. It paid any dividends declared. Simons made no repayments of debt during the year. Prepare the operating activities section of the statement of cash flows using the indirect method.

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Simons Products, Inc. Comparative Balance Sheets At December 31 Accounts Receivable-net Total Current Assets Plant and Equipment net Total Current Liabilities Retained Eamings Total Shareholders Equity Total Liabilities and Equity Simons Products, Inc. Income Statement For the Year Ended December 31 Cument Year Sales $1,300 Operating Expenses: Cost of Goods Sold Depreciaticn Insurance Gain on Sale of Equipment Other Expenses $780 65 39 26) 195 门,053) S 247 104 S 143 Income Before Tax Provision for Income Tax Net Income