Last year Cumber Company reported a cost of goods sold of $77,000. Inventories decreased by $14,000 during the year, and accounts payable increased by $9,300. The company uses the direct method to determine the net cash provided by operating activities on the statement of cash flows. The cost of goods sold adjusted to a cash basis would be:

a. $100,300

b. $67,700

c. $63,000

d. $53,700