Yadier Company completed its first year of operations on December 31, 2011. Its initial income statement showed that Yadier had revenues of $192,000 and operating expenses of $78,000. Accounts receivable and accounts payable at year-end were $60,000 and $23,000, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes.

Instructions

Compute net cash provided by operating activities using the direct method.