A company had net income of $1,395,000. Depreciation expense is $156,000. During the year, Accounts Receivable and Inventory increased $90,000 and $240,000, respectively. Prepaid Expenses and Accounts Payable decreased $12,000 and $24,000, respectively. There was also a loss on the sale of equipment of $18,000. How much cash was provided by operating activities during the year?

Select one:

A. $1,728,000

B. $ 1,176,000

C. $1,656,000

D. $1,227,000