The Net Income Reported on the Income Statement for the Current

Multiple Choice

The net income reported on the income statement for the current year was $245000. Depreciation was $40000. Account receivable and inventories decreased by $12000 and $35000 respectively. Prepaid expenses and accounts payable increased respectively by $1000 and $8000. How much cash was provided by operating activities?

A) $296000
B) $339000
C) $323000
D) $311000