IV. Using the following information, determine the amount of cash flows from operating activities using the indirect method
Net income
$282,000
Gain on the sale of equipment
22,300
Proceeds from the sale of equipment
82,300
Depreciation expense equipment
60,000
Payment of bonds at maturity
200,000
Purchase of land
300,000
Issuance of common stock
400,000
Increase in merchandise inventory
45,400
Decrease in accounts receivable
38,800
Increase in accounts payable
33,700
Payment of cash dividends
42,000
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