The balance sheet data of Naley Company at the end of 2008 and 2007 follow:
2008 2007
Cash $ 50,000 $ 70,000
Accounts receivable (net) 120,000 90,000
Merchandise inventory 140,000 90,000
Prepaid expenses 20,000 50,000
Buildings and equipment 180,000 150,000
Accumulated depreciation-buildings and equipment (36,000) (16,000)
Land 180,000 80,000
Totals $654,000 $514,000
Accounts payable $136,000 $110,000
Accrued expenses 24,000 36,000
Notes payable-bank, long-term 80,000
Mortgage payable 60,000
Common stock, $10 par 418,000 318,000
Retained earnings (deficit) 16,000 (30,000)
$654,000 $514,000
Land was acquired for $100,000 in exchange for common stock, par $100,000, during the year; all equipment purchased was for cash. Equipment costing $10,000 was sold for $4,000; book value of the equipment was $8,000 and the loss was reported as an ordinary item in net income. Cash dividends of $20,000 were charged to retained earnings and paid during the year; the transfer of net income to retained earnings was the only other entry in the Retained Earnings account.
what was net Cash provided by operation activities .