Nordquist Company's net income last year was $36,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below:

	Increases (Decreases)
Asset and Contra-Asset Accounts:
Accounts receivable	$12,500
Inventory	$(3,400)
Prepaid expenses	$8,000
Accumulated depreciation	$22,000
Liability Accounts:
Accounts payable	$12,000
Accrued liabilities	$(7,900)
Income taxes payable	$2,500

Based solely on this information, the net cash provided by operating activities under the indirect method on the statement of cash flows would be:

$24,500

$81,700

$47,500

$53,600