Last year Cumberland Corporation reported a cost of goods sold of $93,000. Inventories increased by $54,000 during the year, and accounts payable increased by $8,000. The company uses the direct method to determine the net cash provided by (used in) operating activities on the statement of cash flows. The cost of goods sold adjusted to a cash basis would be Multiple Choice $39,000 $139,000 $155,000 $85,000