Hoerner, Inc. shows the following for 2020 and 2019:

20202019Change

Cash$297,000$153,000144,000

Receivables159,000117,00042,000

Inventory150,000170,000(20,000)

Prepaid expenses18,00037,000(19,000)

Plant assets1,260,0001,050,000210,000

Accumulated depreciation(471,000)(375,000)96,000

Accounts payable$153,000$168,000(15,000)

Accrued liabilities60,00042,00018,000

Mortgage payable450,000900,000(450,000)

Preferred stock525,000525,000

Additional paid-in capital Pfd120,000120,000

Common stock600,000600,000

Retained earnings148,00066,00082,000

1. The Accumulated Depreciation account has been credited only for the depreciation expense for the period.
2. The Retained Earnings account has been charged for dividends of $38,000 and credited for the net income of $120,000 for the year.

How much is the Cash from Operating Activitiesusing theindirectmethod for the year ended December 31, 2020?

120,000.

231,000.

216,000.

273,000.