For the year ended December 31, Year 1, Sokolov Company had cash collections from customers of $220,000, cash paid to employees of $32,000, cash paid to suppliers of $100,000, cash used to retire long-term bonds of $32,000, and cash payments for dividends of $20,000. Based on this information, what is the net cash provided from operating activities?

A) $68,000

B) $88,000

C) $188,000

D) $120,000