During the year, Small Time Co had the following transactions.
Purchases from suppliers were $62,500, of which $2,500 was unpaid at the year end. Brought forward payables were $1,250.
Wages and salaries amount to $12,600 , of which $252 was unpaid at the year end. The accounts for the previous year showed an accrual for wages and salaries of $126.
Interest of $3,600 on a long term loan was paid in the year.
Sales revenue was $124,800, including $4,992 receivables at the year end. Brought forward receivable were $ 12,480.
Interest on cash deposits at the bank amounted to $19,440.
Using the direct method, what is Small Time Co's Cash flow from operating activities?
| Cash flows from operating activities | $ |
| Cash received from customers | 132,288 |
| Cash paid to suppliers | (61,250) |
| Cash paid to employees | (12,474) |
| Interest paid | (3,600) |
| Interest received | 19,440 |
| Net Cash flows from operating activities | 74,404 |