Macgregor Company completed its first year of operations on December 31, 2017. Its initial income statement showed that Macgregor had revenues of $193,900 and operating expenses of $80,800. Accounts receivable and accounts payable at year-end were $65,600 and $16,400, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided by operating activities using the direct method.