Sandhill AG reported 130,500 of net income for 2022. The accountant, in preparing the statement of cash flows, noted several items occurring during 2022 that might affect cash flows from operating activities. These items are listed below.

1.		Sandhill purchased 100 treasury shares at a cost of 20 per share. These shares were then resold at 25 per share.
2.		Sandhill sold 100 ordinary shares of Nokia at 250 per share. The acquisition cost of these shares was 165 per share. This investment was shown on Sandhills December 31, 2021, statement of financial position as a non-trading equity investment.
3.		Sandhill revised its estimate for bad debts. Before 2022, Sandhills bad debt expense was 1% of its receivables. In 2022, this percentage was increased, resulting in bad debt expense of $8,500. Net accounts receivable decreased by 10,800 during 2022.
4.		Sandhill issued 450 ordinary shares with a 10 par value for a patent. The fair value of the shares on the date of the transaction was 23 per share.
5.		Depreciation expense is 32,000.
6.		Sandhill holds 25% of the Sanchez Companys ordinary shares as a long-term investment. Sanchez Company reported 27,000 of net income for 2022.
7.		Sanchez Company paid a total of 1,800 of cash dividends to all investees in 2022.
8.		Sandhill declared a 10% share dividend. One thousand ordinary shares with a 10 par value were distributed. The market price at date of issuance was 20 per share.

Prepare a schedule that shows the net cash flow from operating activities using the indirect method. Assume no items other than those listed above affected the computation of 2022 net cash flow from operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Sandhill AG Statement of Cash Flows (Partial) For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income 159500 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 32000 Gain on Sale of Investment -18500 Decrease in Accounts Receivable 13200 Dividends from Equity Method Investment - Income from Equity Method Investment Net Cash Provided by Operating Activities 186200