What is Klutz's net cash provided (used) by operating activities?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Clumsy Dance Studio had net income of $167,000 for the year just ended. Clumsy collected the following additional information to prepare its statement of cash flows for the year: Decrease in accounts receivable $24,000 Increase in accounts payable $11,000 Increase in retained earnings $92,000 Cash paid for purchase of new music equipment $20,000 Depreciation expense $5,000 Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided (used) by operating activities?

a. $137,000
b. $185,000
c. $95,000
d. $207,000
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