Assume a merchandising company reported the following income statement:

Sales	$ 300,000
Cost of goods sold	180,000
Gross margin	120,000
Selling and administrative expenses	80,000
Net income before taxes	40,000
Income tax expense	12,000
Net income	$ 28,000

Selected balance sheet accounts are as follows:

	Beginning Balance	Ending Balance
Current Assets
Accounts receivable	$ 60,000	$ 63,400
Inventory	$ 30,000	$ 28,000
Prepaid expenses	$ 8,000	$ 6,000
Current Liabilities
Accounts payable	$ 10,000	$ 13,000
Accrued liabilities	$ 7,000	$ 6,000
Income taxes payable	$ 4,000	$ 4,000

If the companys selling and administrative expense includes $16,000 of depreciation, then what is the net cash provided by operating activities?