Innovative Products reported net income of $218,000. Beginning and ending inventory balances were $45,000 and $47,000, respectively. Accounts Payable balances at the beginning and end of the year were $41,500 and $38,000, respectively. Assuming that all relevant information has been presented, the company would report net operating cash flows of:

Multiple Choice

• $223,500.

• $216,500.

• $212,500.

• $219,500.