The current sections of Kitselton Inc.’s balance sheets at December 31, 2009 and 2010, are presented here. Kitselton’s net income for 2010 was $153,000. Depreciation expense was $34,000.

2010

2009

Current assets

Cash

$105,000

$ 99,000

Accounts receivable

100,000

89,000

Inventory

168,000

172,000

Prepaid expenses

27,000

22,000

Total current assets

$400,000

$382,000

Current liabilities

Accrued expenses payable

$ 15,000

$ 5,000

Accounts payable

85,000

92,000

Total current liabilities

$100,000

$ 97,000

Instructions

Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2010, using the indirect method.