Macgregor Company completed its first year of operations on December 31, 2017. Its initial income statement showed that Macgregor had revenues of $197,800 and operating expenses of $74,500. Accounts receivable and accounts payable at year-end were $61,100 and $31,900, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided by operating activities using the direct method.