During the year, Wright Company sells 495 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Portions of the financial statements for a company are provided below. Income Statement For the year ended December 31, Year 2 Net sales $ 1,850,000 Expenses: Cost of goods sold $ 1,070,000 Operating expenses 580,000 Depreciation expense 52,000 Income tax expense 42,000 Total expenses 1,744,000 Net income $ 106,000 Selected Balance Sheet Data December 31 Year 2 Year 1 Increase (I) or Decrease (D) Cash $ 104,000 $ 86,000 $ 18,000 (I) Accounts receivable 45,200 50,000 4,800 (D) Inventory 77,000 56,000 21,000 (I) Prepaid rent 3,200 5,400 2,200 (D) Accounts payable 47,000 38,000 9,000 (I) Income tax payable 5,200 11,000 5,800 (D) Required: Prepare the operating activities section of the statement of cash flows for the company using the indirect method.