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Using the indirect method, calculate the amount of net cash flows from operating activities from the following data:

20X1 20X0
Net Income $250,000
Accounts receivable 22,000 25,000
Prepaid expenses 3,000 5,000
Accounts payable 14,000 15,000
Depreciation expense 51,000
Amortization expense (Patent) 4,000
Dividends declared and paid 11,000

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