Use the Following Information and the Indirect Method to Calculate

Use the following information and the indirect method to calculate the net cash provided or used by operating activities:
$$\begin{array} { | l | r | } \hline \text { Net income } & \$ 85,300 \\\hline \text { Depreciation expense } & 12,000 \\\hline & \\\hline \text { Gain on sale of land } &7,500 \\\hline \text { Increase in merchandise inventory } & 2,050 \\\hline \text { Increase in accounts payable } & 6,150\\\hline\end{array}$$

A) $69,900.
B) $108,900.
C) $93,900.
D) $85,700.
E) $81,600.

Correct Answer:

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