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	$	54,000
Accounts payable increased by		18,200
Accounts receivable decreased by		25,200
Inventories increased by		5,400
Depreciation expense was		30,600

Net cash provided by operating activities was:

Multiple Choice

• $61,400.

• $72,200.

• $133,400.

• $122,600.

• $83,000.