In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available:

Net income for the year was$60,000

Accounts payable decreased by 26,000

Accounts receivable increased by 33,000

Inventories increased by 13,000

Cash dividends paid were 15,600

Depreciation expense was 28,000

Net cash provided by operating activities was:

Multiple Choice

$38,000.

$16,000.

$76,400.

$144,000.

$52,000.