Problem - The following information is related to Alpha Company's fiscal year 2017.

Income Statement:

Net Income                             $3,000,000

Depreciation Expense                500,000

Loss on Sale of Plant Assets        50,000

Interest Expense                             5,000

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

Accounts Payable                  ($40,000)

Plant Assets - Purchased        250,000

Plant Assets - Disposals         (100,000)

Additional Information: Common Stock exchanged for outstanding Long Term Notes Payable of $125,000

Dividends paid were $30,000

Use this information to prepare a partial Statement of Cash Flows for Alpha Company. Prepare only the section related to Cash Flows from Operating Activities.