Zinc Company's net income last year was $60,000, and cash dividends declared and paid to the stockholders were $20,000. Changes in selected balance sheet accounts for the year appear below:

	Increases
	(Decreases)
Debit balances:
Accounts receivable	$ (5,000)
Inventory	(4,000)
Prepaid expenses	8,000
Credit balances:
Accumulated depreciation	15,000
Accounts payable	(6,000)
Accrued liabilities	14,000
Taxes payable	8,000
Bonds payable	50,000

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

a.$54,000.

b.$21,000.

c.$92,000.

d.$87,000.