The following are line items included in the 2012 statement of cash flows prepared by Goodly's Clothing Company.
Depreciation expense..............$5,500
Increase in accounts receivable ..........$1,500
Increase in accounts payable ...........$13,200
Increase in accrued salaries payable .........$4,300
Increase in inventories ...............$11,900
Gain on disposal of long-term assets ........$150
Increase in income taxes payable ..........$2,200
Net income .................$17,000
Required:
Prepare the operating cash flow section of Goodly's statement of cash flows using the indirect method.