Royal Corporation uses the indirect method of computing net cash from operating activities and reported the following for 20X2: Accounts receivable decreased by $10,300, merchandise inventory increased by $15,300, accounts payable decreased by $4,000, and income taxes payable increased by $18,800. If Royal Corporation reported net income for 20X2 of $157,800 (including $34,800 of depreciation expense), net cash from operating activities for 20X2 is: a. $132,800. b. $221,700. c. $164,800. d. $202,400