X company uses the indirect method to determine its cash flows from operating activities. Determine its net cash provided or used by operating activities, using the following information. Depreciation expense Net income Increase in inventory Cash payment on note payable Gain on sale of land Increase in accounts payable a. $282,500 provided by operating activities. b. $232,500 provided by operating activities. c. $182,500 provided by operating activities. d. $318,500 provided by operating activities. $100,000 $182.000 $18,000 $50,000 $30,000 $48,500