Mullinix Inc. reported the following information: net income, $45,000;

increase in accounts receivable, $10,000; increase in accounts payable $8,000;

and depreciation expense, $3,000. What amount did Mullinix report as cash flow from operating activities on its statement of cash flows?

a. $24,000

b. $30,000

c. $40,000

d. $46,000