Income statement: Dec. 31 2007 Jan 1 2007 Net Income &nbs p; $385000 Depreciatio

Income statement: Dec. 31 2007 Jan 1 2007
Net Income &nbs p; $385000
Depreciation Expense &nb sp;$125000
Amortization of Intangible assets $40000
Gain on slae of Plant Assets 90000
Loss on Sale of Investments 35000
Balance Sheet:
Accounts Receivable 335000 380000
Inventory & nbsp; 503000 575000
Prepaid Expenses &n bsp; 22000 10000
Accounts Payable (to merchandise suppliers) 379000 410000
Accrued Expenses Payable 180000 &n bsp; 155000Using this information prepare a partial statement of case flows for the year ended December 31 2007 showing the computation of net cash flows from operating activities by the indirect method.