The following Income Statement was prepared for Chop and Saut, Inc., an upscale cooking store:

Chop and Saut, Inc.

Income Statement

For the year ended December 31, 2019

Sales Revenue	$347,000
Cost of Goods Sold	(78,000)
Gross Profit	$269,000
Selling and Administrative Expenses	(43,900)
Operating Income	225,100
Loss on Sale of Equipment	(5,500)
Net Income	$219,600

All of the companys sales are made on account. At the beginning of the year, the Accounts Receivable balance was $53,500. The balance had increased to $54,200 by year-end.

All of the companys inventory purchases are made on account. Accounts Payable consists solely of inventory purchases. At the beginning of the year, the Inventory balance was $60,400. By year-end, the balance had increased by $4,900. The net increase in the Accounts Payable balance during the year was $1,100.

$12,300 of depreciation expense is included in the Selling and Administrative Expenses. The company uses the direct write off method to account for bad debt but did not write off or reinstate any accounts during 2019. All cash operating expenses are paid when incurred.

What was the companys 2019 net cash flows from operating activities?

A.

$150,000

B.

$232,900

C.

$230,700

D.

$220,600

E.

$235,700