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

Net income	$	87,000
Depreciation expense		13,700
Gain on sale of land		6,600
Increase in merchandise inventory		3,750
Increase in accounts payable		7,850

Multiple Choice

• $31,800.

• $16,350.

• $38,400.

• $98,200.

• $17,350.