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

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