The net income reported on the income statement for the current year was $272,467. Depreciation recorded on fixed assets and amortization of patents for the year were $39,538 and $9,404, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:

	End	Beginning
Cash	$45,055	$61,406
Accounts Receivable	129,733	105,523
Inventories	111,049	90,268
Prepaid Expenses	4,992	6,529
Accounts Payable (merchandise creditors)	53,271	76,339

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

a. $254,887

b. $254,365

c. $349,443

d. $276,418