Sapphire Company Reported the Following Information for the Year 2014

Multiple Choice

Sapphire Company reported the following information for the year 2014: Sales revenue of $280,000;cost of goods sold of $100,000;selling expenses of $40,000;administrative expenses of $35,000;depreciation of $25,000;interest expense of $8,000;and income tax expense of $28,000.All sales were made for cash and all expenses (other than depreciation and bond premium amortization of $2,000) were paid in cash.All current assets and current liabilities remained unchanged.How much cash was provided by operations for Sapphire Company during 2014?

A) $44,000
B) $69,000
C) $67,000
D) $71,000