Rachel's Recordings reported net income of $260,000. Beginning balances in Accounts Receivable and Accounts Payable were $17,000 and $22,000 respectively. Ending balances in these accounts were $9,500 and $30,000, respectively. Assuming that all relevant information has been presented, Rachel's net cash flows from operating activities would be:

Multiple Choice

• $275,500.

• $260,000.

• $244,500.

• $267,500.