During the year, Small Time Co had the following transactions.
Purchases from suppliers were $37,500, of which $1,500 was unpaid at the year end. Brought forward payables were $750.
Wages and salaries amount to $25,200 , of which $504 was unpaid at the year end. The accounts for the previous year showed an accrual for wages and salaries of $252.
Interest of $8,400 on a long term loan was paid in the year.
Sales revenue was $140,400, including $5,616 receivables at the year end. Brought forward receivable were $ 14,040.
Interest on cash deposits at the bank amounted to $9,720.
Using the direct method, what is Small Time Co's Cash flow from operating activities?
| Cash flows from operating activities | $ |
| Cash received from customers | 148,824 |
| Cash paid to suppliers | (36,750) |
| Cash paid to employees | (24,948) |
| Interest paid | (8,400) |
| Interest received | 9,720 |
| Net Cash flows from operating activities | 88,446 |