Calculate the net cash provided or used by operating activities

 

A company's income statement showed the following: net income, $125,000; depreciation expense, $35,500; and gain on sale of plant assets, $9,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $10,500; merchandise inventory increased $23,500; prepaid expenses decreased $7,300; accounts payable increased $4,500. Calculate the net cash provided or used by operating activities.

A. $135,000.

B. $147,800.

C. $149,800.

D. $175,800

E. $154,600.

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