#9The current sections of May Inc.’s balance sheets at December 31, 2013 and 2014, are presented here.

May’s net income for 2014 was $203,000. Depreciation expense was $25,000.

2014 2013

Current assets

Cash $115,000 $99,000

Accounts receivable 105,000 89,000

Inventory 154,000 172,000

Prepaid expense 27,000 21,000

Total current assets $401,000 $381,000

Current liabilities

Accrued expenses payable $ 15,000 $ 5,000

Accounts payable 85,000 93,000

Total current liabilities $100,000 $ 98,000

Instructions

Prepare the net cash provided by operating activities section (ONLY!) of the company’s statement of cash flows for the year ended December 31, 2014, using the indirect method.