Select financial information for Logistical Corp. as at December 31, 20X6, follows:

Logistical Corp.

Statement of comprehensive income

For the year ended December 31, 20X6

Sales $405,000

Cost of goods sold (248,000)

Gross profit 157,000

Interest expense (6,000)

Depreciation expense (30,100)

Operating expenses (95,000)

Gain on sale of equipment 5,000

Goodwill impairment (3,000)

Income before income taxes 27,900

Income tax expense (5,580)

Profit or loss 22,320

Other comprehensive income: holding gains on investments at fair value through other comprehensive income (FVOCI)

2,400

Comprehensive income 24,720

Logistical Corp.

Statement of financial position

As at December 31, 20X6

20X6 20X5 Change

Cash $ 57,000 $ 76,000 $(19,000)

Investments at FVOCI 8,900 6,500 2,400

Accounts receivable (A/R) 45,000 39,000 6,000

Inventory 100,000 80,000 20,000

Property, plant, and equipment 415,000 450,000 (35,000)

Accumulated depreciation (95,100) (100,000) 4,900

Goodwill 15,000 18,000 (3,000)

Total assets $545,800 $569,500

Accounts payable $ 75,000 $ 68,500 6,500

Cash dividends payable 10,500 6,000 4,500

Bond payable 87,000 76,000 11,000

Interest payable 6,000 6,000

Lease liability 38,000 38,000

Long-term debt 205,000 304,000 (99,000)

Deferred income tax liability 3,600 7,400 (3,800)

Common shares 10,000 10,000

Retained earnings 105,300 88,600 16,700

Accumulated OCI 5,400 3,000 2,400

Total liabilities and equity $545,800 $569,500

Additional information is as follows:

During the year, Logistical sold equipment for proceeds of $50,000. The equipment had a cost of $80,000 and accumulated depreciation of $35,000.

During the year, a review of Logistical's goodwill was completed, and it was determined that the asset was impaired and should be written down by $3,000.

Logistical did not purchase any additional investments in the year. Any changes in the fair value of investments have been adjusted through other comprehensive income. These securities are not cash equivalents.

During the year, a new lease was signed for equipment that had a fair market value of $45,000. Depreciation expense for the year totalled $1,000. The new lease was signed in the year, which required a $7,000 payment at the start of the lease.

Logistical elects to classify any interest paid and dividends paid as financing activities. During the year, Logistical declared dividends of $5,620.

What is the net cash from operating activities for the year ended December 31, 20X6?

a) $30,120

b) $33,120

c) $35,520

d) $42,500