In Its First Year of Operations, Sweetness Co

Multiple Choice

In its first year of operations, Sweetness Co. reported net income of $158,000. Total sales (all on account) amounted to $575,000 and collections of receivables totaled $511,500. Sweetness recorded $17,000 of depreciation expense. Based on these facts alone, what is the net cash provided by operating activities?

A) $ 77,500
B) $ 94,500
C) $111,500
D) $158,000
E) $204,500