Cash Flow from Operations Using Direct Method

Consider a company, XYZ Corp., that reported the following items in its financial statements for the year ended December 31, 2023:

- Net income: $500,000

- Depreciation expense: $50,000

- Loss on sale of equipment: $20,000

- Increase in accounts receivable: $30,000

- Decrease in accounts payable: $10,000

- Cash received from issuing stock: $200,000

Using the direct method for calculating cash flows from operating activities, what is the amount of cash generated from operating activities reported in the statement of cash flows?