Northeast Inc. is preparing the company's statement of cash flows for the fiscal year just ended. Using the following information, determine the

amount of cash flows from operating activities using the Indirect method:

Net income

Gain on the sale of equipment

Proceeds from the sale of equipment

Depreciation expense-equipment

Payment of bonds at maturity

Purchase of land

Issuance of common stock

Increase in merchandise inventory

Decrease in accounts receivable

Increase in accounts payable

Payment of cash dividends

$182,000

12,300

92,300

50,000

100,000

200,000

300,000

35,400

28,800

23,700

32,000

Operating activities

Net Income - 182000

Subtract gain on sales of equipment (12300)

Add back depreciation expenses - 50000

Increase in inventory (35400)

Decrease in accounts receivable 28800

Increase in accounts payable 23700

Cash flow from operating activities 126100

Investing activities

Proceeds from sales of equipment 92300

Purchase of land (200000)

Cash flow from investing activities (107700)

Financing activities

Payments of bonds at maturity (100000)

Issuance of stock 300000

Payment of cash dividend (32000)

Cash flow from Financing activities 168,000

Net increase in cash and cash equivalent 186400