Net Cash Flow From Operating Activities
The following are accounting items taken from Tyrone Shoelaces Company's records for 2016:
Net income, $22,900
Payment for purchase of land, $4,000
Payment for retirement of bonds, $6,000
Depreciation expense, $7,800
Receipt from issuance of common stock, $7,000
Patent amortization expense, $2,700
Increase in accounts receivable, $3,400
Payment of dividends, $5,000
Decrease in accounts payable, $2,600
Required:
Prepare the net cash flow from operating activities section of Tyrone's 2016 statement of cash flows using the indirect method. Use a minus sign for any negative amounts.