A Company's Income Statement Showed the Following: Net Income,$124,000 and Depreciation

Multiple Choice

A company's income statement showed the following: net income,$124,000 and depreciation expense,$30,000.An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400;merchandise inventory increased $18,000;and accounts payable increased $3,400.Calculate the net cash provided or used by operating activities.

A) $118,000.
B) $159,200.
C) $123,200.
D) $148,800.
E) $178,000.