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 $4,200 , of which $84 was unpaid at the year end. The accounts for the previous year showed an accrual for wages and salaries of $42.
Interest of $10,800 on a long term loan was paid in the year.
Sales revenue was $62,400, including $2,496 receivables at the year end. Brought forward receivable were $ 6,240.
Interest on cash deposits at the bank amounted to $3,240.
Using the direct method, what is Small Time Co's Cash flow from operating activities?
| Cash flows from operating activities | $ |
| Cash received from customers | 66,144 |
| Cash paid to suppliers | (36,750) |
| Cash paid to employees | (4,158) |
| Interest paid | (10,800) |
| Interest received | 3,240 |
| Net Cash flows from operating activities | 17,676 |