During the year, Small Time Co had the following transactions.
Purchases from suppliers were $25,000, of which $1,000 was unpaid at the year end. Brought forward payables were $500.
Wages and salaries amount to $16,800 , of which $336 was unpaid at the year end. The accounts for the previous year showed an accrual for wages and salaries of $168.
Interest of $9,600 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 $16,200.
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 | (24,500) |
| Cash paid to employees | (16,632) |
| Interest paid | (9,600) |
| Interest received | 16,200 |
| Net Cash flows from operating activities | 31,612 |