Titanium Company's net income last year was $$25,000,$ and cash dividends declared and paid to the stockholders were $$10,000.$ Changes in selected balance sheet accounts for the year appear below:

Increases

$($Decreases$)$

Debit balances:

Accounts receivable

$$(4,000)$

Inventory

$8,000$

Long$-$term investments

$30,000$

Credit balances:

Accumulated depreciation

$10,000$

Accounts payable

$5,000$

Accrued liabilities

$(9,000)$

Taxes payable

$(2,000)$

Based solely on this information, net cash flow from operating activities under the indirect method on the statement of cash flows would be:

a$)$ $$20,000.$

b$)$ $$12,000.$

C$)$ $$37,000.$