Use the following information and the indirect method to calculate the net cash provided or used by operating activities:

Net income	$	86,500
Depreciation expense		13,200
Gain on sale of land		7,100
Increase in merchandise inventory		3,250
Increase in accounts payable		7,350

Multiple Choice

• $30,800.

• $15,100.

• $16,100.

• $96,700.

• $37,900.