Cash Flows from Operating Activities-Indirect Method
the Data Below Are

Cash flows from operating activities-indirect method
The data below are taken from the financial statements of the Rutherford Corporation:
$\begin{array}{|l|r|r|}\hline \text { Income Statement: } & {\mathbf{2 0 0 9}} \\\hline & \\\hline \text { Net income } & \$ 840,000\\\hline \text { Depreciation expense } & 170,000 \\\hline \text { Amortization of patent } &30,000 \\\hline \text { Gain on sale of equipment } & 110,000 \\\hline\\\hline \text { Balance Sheet: } & \mathbf{1 2 / 3 1 / 0 9} & \mathbf{1 2 / 3 1 / 0 8} \\\hline & & \\\hline \text { Accounts receivable } & \$ 710,000 & \$ 680,000 \\\hline \text { Inventory } & 840,000 & 800,000 \\\hline \text { Prepaid expenses } & 30,000 & 35,000 \\\hline \text { Accounts payable } & 660,000 & 630,000 \\\hline \text { Accrued expenses payable } & 430,000 & 440,000 \\\hline\end{array}$
Complete the partial statement of cash flows for the year ended December 31, 2009, showing the computation of net cash flows from operating activities by the indirect method: