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The financial statements of Flathead Lake Manufacturing Company are shown below:

Flathead Lake Manufacturing Company Income Statement 2020 Sales $ 9,550,000 Cost of Goods Sold 5,775,000 Depreciation Expense 560,000 Gross Profit $ 3,215,000 Selling and Administrative Expenses 2,450,000 EBIT $ 765,000 Interest Expense 225,000 Income before Tax $ 540,000 Taxes 340,000 Net Income $ 200,000

Flathead Lake Manufacturing Company Comparative Balance Sheets 2020 2019 Cash $ 49,000 $34,000 Accounts Receivable 595,000 630,000 Inventory 555,000 480,000 Total Current Assets $ 1,199,000 $ 1,144,000 Fixed Assets 2,100,000 $ 1,445,000 Total Assets $ 3,299,000 $ 2,589,000 Accounts Payable $ 314,000 $ 280,000 Bank Loans 485,000 409,000 Total Current Liabilities $ 799,000 $ 689,000 Long-term Bonds 1,550,000 1,075,000 Total Liabilities $ 2,349,000 $ 1,764,000 Common Stock (200,000 shares) 200,000 200,000 Retained Earnings 750,000 625,000 Total Equity $ 950,000 $825,000 Total Liabilities and Equity $ 3,299,000 $ 2,589,000

Note: The common shares are trading in the stock market for $15 per share

Refer to the financial statements of Flathead Lake Manufacturing Company. The firm's cash flow from operating activities for 2020 was __________.

Multiple Choice $800,000 $760,000 $754,000 $690,000

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