Given the following information related to net changes in working capital accounts for the Player Company:

	Increase	Decrease
Cash	$15,000
Trade accounts receivable (net)	8,400
Inventories		$16,200
Salaries payable (operating)		6,000
Trade accounts payable	11,000

Cash Provided by Operating Activities is $100,000. The company also indicated that depreciation expense for the year was $14,200.

Net Income is:

Select one:

a. $73,000

b. $87,200

c. $118,200

d. $103,000

e. $103,200