Klutz Dance Studio had net income of $167,000 for the year just ended. Klutz collected the following additional information to prepare its statement of cash flows for the year:??Decrease in accounts receivable$24,000Increase in accounts payable$11,000Increase in retained earnings$92,000Cash paid for purchase of new music equipment$20,000Depreciation expense$5,000Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided by (used in) operating activities?
A. $185,000
B. $207,000
C. $137,000
D. $95,000
Answer: B
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