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Racing Horse Corporation reported net income for 2014 of $450,000, sales of $1,375.000, expenses (excluding depreciation) of $350,000, and depreciation expense of $120,000. The company's

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Racing Horse Corporation reported net income for 2014 of $450,000, sales of $1,375.000, expenses (excluding depreciation) of $350,000, and depreciation expense of $120,000. The company's accounts receivable balance decreased by $60,000 during the year. The company's inventory balance increased by $80,000 and its accounts payable balance increased by $45.000. The company's after tax cash flow from operations for the year is O $475,000 $570,000 O $595,000 O $545,000

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