In its statement of cash flows issued for the year ending December 31, Oxford Company reported a net cash inflow from operating activities of $123. The following adjustments were included in the supplementary schedule reconciling cash flow from operating activities with net income:

Patent Amortization	$38
Increase in net accounts receivable	31
Decrease in inventory	27
Decrease in accounts payable	48
Gain on fixed asset sale	12

Net income is:

Select one:

a.$26

b.$149

c.$125

d.$97

e.$225