Based on the Following Income Statement and Balance Sheet for Rashid

Based on the following income statement and balance sheet for Rashid Corporation,determine the cash flows from operating activities using the indirect method.
$\begin{array}{c}\text { RASHID CORPORATION}\\\text { Income Statement}\\\text { For Year Ended December 31, 2013}\\\begin{array}{|l|r|r|}\hline \text { Sales } & & \$ 504,000 \\\hline \text { Cost of goods sold } & \$ 327,600 & \\\hline \text { Depreciation expense } & 42,000 & \\\hline \text { Other operating expenses } & 125,500 & (495,100) \\\hline \text { Other gains (losses): } & & \\\hline \text { Gain on sale of equipment } & & \underline{7,200} \\\hline \text { Income before taxes } & & \$ 16,100 \\\hline\text { Income tax expense } & & (4,800) \\\hline \text { Net income } & & \$ 11,300\\ \hline\end{array}\end{array}$

$\begin{array}{c}\text {RASHID CORPORATION}\\\text {Balance Sheets}\\\text {At December 31}\\\begin{array}{|l|r|r|}\hline &2013&2012\\\hline \text { Assets } & & \\\hline \text { Cash } & \$ 64,650 & \$ 55,800 \\\hline \text { Accounts receivable } & 21,000 & 29,000 \\\hline \text { Inventory } & 58,000 & 52,100 \\\hline \text { Equipment } & 240,000 & 222,000 \\\hline \text { Accumulated depreciation } & (106,000) & (96,000) \\\hline \text { Total assets } & \$ 277,650 & \$ 262,900 \\\hline\\\hline\text { Liabilities: } & & \\\hline \text { Accounts payable } & \$ 28,400 & \$ 23,700 \\\hline \text { Income taxes payable } & \underline{1,050} & \underline{1,200} \\\hline \text { Total liabilities } & \$ 29,450 & \$ 24,900\\\hline \text { Equity } & & \\\hline \text { Common stock } & \$ 106,000 & \$ 106,000 \\\hline \text { Contributed Capital in excess of par value } & 18,000 & 18,000 \\\hline \text { Retained earnings } & \underline{124,200} & \underline{114,000} \\\hline \text { Total equity } & \$ 248,200 & \$ 238,000 \\\hline \text { Total liabilities and equity } & \$ 277,650 & \$ 262,900 \\\hline \end{array}\end{array}$