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:
$\begin{array}{|l|r|r|}\hline \text { Income Statement: } & {2014} \\\hline & \\\hline \text { Profit for the year } & \$ 840,000 \\\hline \text { Depreciation expense } & 170,000, \\\hline \text { Amortization of patent } & 30,000 \\\hline \text { Gain on sale of equipment } & 110,000 \\\hline\\\hline \text { Statement of financial position: } & \text { 31 Dec 2014 } & \text { 31 Dec 2013 } \\\hline \text { Accounts receivable } & & \\\hline \text { Inventory } & \$ 710,000 & \$ 680,000 \\\hline \text { Prepaid expenses } & 840,000 & 800,000 \\\hline \text { Accounts payable } & 30,000 & 35,000 \\\hline \text { Accrued expense payable } & 660,000 & 630,000 \\\hline\\\hline\\\hline\end{array}$ Complete the partial statement of cash flows for the year ended 31 December 2014, showing the computation of net cash from operating activities by the indirect method: