Rachel's Recordings reported net income of $240,000. Beginning balances in accounts receivable and accounts payable were $18,000 and $21,000 respectively. Ending balances in these accounts were $9,500 and $29,000, respectively. Assuming that all relevant information has been presented, Rachel's cash flows from operating activities would be:

	$240,000.
	$223,500.
	$248,500.
	$256,500.