Reference no: EM132480839

The following information is related to Towson Company's fiscal year 2018.

Income Statement:

Net Income                           $3,600,000

Depreciation Expense                 550,000

Loss on Sale of Plant Assets         55,000

Interest Expense                        5,000

Balance Sheet - 12/31/17: Increase (Decrease)

Accounts Payable decrease              15,000

Plant Assets - Purchased               250,000

Plant Assets - Disposals                 (100,000)

Additional Information:

1. Common Stock exchanged for outstanding Long Term Notes Payable of $125,000
2. Dividends paid were $30,000

Question 1: Use this information to determine Towson Company's Net Cash Flows from Operating Activities. If the amount is an outflow then enclose the amount with dollar sign inside of brackets ( ).