An income statement for the first year of operations for Patti Company appears below: Sales $390,000

Dividend revenue 39,000

Interest revenue 24,050

Cost of goods sold (208,000 )

Salary expense (26,000 )

Depreciation expense (70,200 )

Income tax expense (109,200 )

Net income $39,650

Additional information:

a. Accounts payable, end of year, $13,000.

b. Salaries payable, end of year, $8,450.

c. Inventories, end of year, $26,000.

d. Accounts receivable, end of year, $32,500.

Required:

Use the direct approach to calculate the cash provided (used) by operating activities for Patti Company.