Question 23

Waterway Industries reported net income of $472000 for the year ended 12/31/18. Included in the computation of net income were: depreciation expense, $60800; amortization of a patent, $32400; income from an investment in common stock of Pharoah Company, accounted for under the equity method, $47000; and amortization of a bond discount, $11300. Waterway also paid an $80400 dividend during the year. The net cash provided by operating activities would be reported at

a) $449100.

b) $336300.

c)$529500.

d)$416700.