Klutz Dance Studio had net income of $207,000 for the year just ended. Klutz collected the following additional information to prepare its statement of cash flows for the year:

Decrease in accounts receivable	$34,000
Increase in accounts payable	$21,000
Increase in retained earnings	$112,000
Cash paid for purchase of new music equipment	$30,000
Depreciation expense	$7,000

Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided (used) by operating activities?

$125,000

$159,000

$259,000

$269,000