A company's income statement showed the following: net income, $132,000; depreciation expense, $39,000; and gain on sale of plant assets, $13,000. An examination of the company's current assets and current liabilities showed the following changes accounts receivable decreased $11,200; merchandise inventory increased $27,000; prepaid expenses increased $8000; accounts payable increased $5200. Calculate the net cash provided or used by operating activities.
A. $181,400.
B. $155,400.
C. $160,200.
D. $153,400.
E. $139,400.
Answer: E
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