In preparing Carpenter 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$52,000Accounts payable decreased by$18,000Accounts receivable increased by$25,000Inventories increased by$5,000Cash dividends paid were$14,000Depreciation expense was$20,000Net cash provided by operating activities was:

$24,000.

$70,000.

$110,000.

$71,000.

$120,000.