Finlay Company reported net income of $925,000 last year. Included in that figure is a loss on the sale of equipment of $21,000 and depreciation expense of $32,000. In addition, accounts payable increased by $29,000 during the year. What amount of cash did this company generate from its operating activities?

Select one:

a. $943,000

b. $965,000

c. $1,007,000

d. $949,000

e. $907,000