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Cridberg Corporation's selling and administrative expenses for last year totaled $300,000. During the year the company's prepaid expense account balance increased by $38,000 and accrued

Cridberg Corporation's selling and administrative expenses for last year totaled $300,000. During the year the company's prepaid expense account balance increased by $38,000 and accrued liabilities decreased by $32,000. Depreciation for the year was $65,000. Based on this information, selling and administrative expenses adjusted to a cash basis under the direct method on the statement of cash flows would be:

$295,000

$305,000

$165,000

$435,000

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