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

Net income	$ 87,200
Depreciation expense	13,900
Gain on sale of land	6,400
Increase in merchandise inventory	3,950
Increase in accounts payable	8,050

$17,850.

$16,850.

$98,800.

$32,200.

$38,600.