7)

Rice Company has provided the following relevant information pertaining to its most recent year of operations:

• Net income, $120,000
• Depreciation expense was $15,000
• Accounts receivable increased $9,000
• Prepaid insurance decreased $3,000
• Wages payable decreased $7,000

Using the indirect method, how much was Rice's net cash provided by operating activities?

Choose the right answer below?

1. $148,000
2. $92,000
3. $134,000
4. $122,000