Gutierrez Company reported net income of $198,760 for 2014. Gutierrez also reported depreciation expense of $45,030 and a loss of $4,850 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $13,600 for the year, a $16,640 increase in accounts payable, and a $3,410 decrease in prepaid expenses.
Prepare the operating activities section of the statement of cash flows for 2014. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).