Assume a merchandising company reported the following income statement: Sales Cost of goods sold Gross margin Selling and administrative expenses Net income before taxes Income tax expense Net income Selected balance sheet accounts are as follows: $ 300,000 180,000 120,000 80,000 40,000 12,000 $ 28,000 Beginning Balance Current Assets Accounts receivable $ 60,000 Inventory $ 30,000 Prepaid expenses Current Liabilities Accounts payable Accrued liabilities Income taxes payable $ 8,000 Ending Balance $ 62,600 $ 28,000 $ 6,000 $13,000 $ 10,000 $ 7,000 $ 6,000 $ 4,000 $ 4,000 If the company's selling and administrative expense includes $16,000 of depreciation, then what is the net cash provided by operating activities? income taxes payable $ 4,000 $ 4,000 If the company's selling and administrative expense includes $16,000 of depreciation, then what is the net cash provided by operating activities? Multiple Choice $19,400. $47,400. O $7,400 $8,600