Jones Company had Net Income for the year of $48,000. Accumulated Depreciation increased $5,000 this year. Inventory increased by $28,000 during the year, and Accounts Receivable decreased by $17,000. What was the Net Cash Flows from Operating Activities using the Indirect Method (assume that no other account balances changed that would impact the computation).

a. $64,000 b. $54,000 c. $8,000 d. $42,000