A company's income statement showed the following: net income, $125,000 and depreciation expense, $30,300. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,500; merchandise inventory increased $18,200; and accounts payable increased $3,500. Calculate the net cash provided or used by operating activities.

Multiple Choice

• $119,000.

• $160,500.

• $124,100.

• $150,100.

• $179,500.