A Inc. reported net income of $300 million for year 2021. Additional information appears below:

Sale of common stock for cash, $44 million.

Amortization of trademark, $12 million.

Cash dividends paid, $3 million.

Increase in accounts payable, $20 million.

Net cash flows from operating activities during 2021 should be reported as:

	a.	$332 million
	b.	$300 million
	c.	$352 million
	d.	$312 million
	e.	$348 million