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James Corporation’s comparative balance sheet for current assets and liabilities was as follows:

Dec. 31, 2014 Dec. 31, 2013
Accounts receivable 7,500 5,200
Inventory 11,500 16,000
Accounts payable 4,300 5,200
Dividends payable 4,000 3,000

Adjust 2014 net income of $60,000 for changes in operating assets and liabilities to arrive at cash flows from operating activities using the indirect method. Show all work.