Nevada Boot Co. reported net income of $217,300 for its year ended December 31, 2021. Purchases totaled $152,100. Accounts payable balances at the beginning and end of the year were $36,000 and $31,300, respectively. Beginning and ending inventory balances were $43,900 and $47,900, respectively. Assuming that all relevant information has been presented, Nevada Boot would report operating cash flows of:

Multiple Choice

• $156,100.

• $226,000.

• $208,600.

• $156,800