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 Saved Current Assets Accounts receivable Inventory Prepaid expenses Current Liabilities Accounts payable Accrued liabilities Income taxes payable Beginning Balance Ending Balance $ 60,000 $ 62,800 $ 30,000 $ 8,000 $ 10,000 $ 7,000 $ 4,000 $ 28,000 $6,000 $13,000 $ 6,000 $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 $19.200. $7.200. $47,200 $8.800 13